15-year mortgage rates

Explore and compare current rates from Rocket Mortgage® for 15-year fixed mortgages. VA loans are for eligible military. Jumbo loans are for mortgages starting at $766,550 and up in most areas of the U.S.

Estimate your rate to get one that’s personalized just for you.

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Refinance rates

Monthly payment examples below are for a loan amount of $350k ($1,100k on Jumbo). Taxes and insurance not included within the estimate; actual payment amount will be greater.

15-year fixed

Rate

5.875%

APR
6.33%

Monthly payment$2,930

Points

1.875 ($6,563)

Estimate my rate Learn about 15-year fixed loans

15-year FHA

Rate

5.49%

APR
6.427%

Monthly payment$2,901

Points

2 ($7,000)

Estimate my rate Learn about FHA loans

15-year VA

Rate

5.49%

APR
6.136%

Monthly payment$2,858

Points

1.875 ($6,563)

Estimate my rate Learn about VA loans

15-year VA jumbo

Rate

5.25%

APR
5.79%

Monthly payment$8,843

Points

1.75 ($19,250)

Estimate my rate Learn about jumbo loans
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Looking for low interest loans?

Depending on how long you plan to own your home, an adjustable-rate mortgage (ARM) could be a good option.

Learn about ARM loans

Rates are current as of 2:05 AM UTC on June 18, 2026

Legal Disclosures

Every situation is different. These figures are for estimation purposes only and may not reflect the exact terms of your loan. This is not a commitment to lend.

15-year Fixed-Rate Loan: Payment assumes a loan-to-value (LTV) of 80.00%.

15-year FHA Fixed-Rate Loan: Payment assumes a loan-to-value (LTV) of 80.00%.

Payment includes a one-time upfront mortgage insurance premium at 1.75% of the base loan amount and a monthly mortgage insurance premium (MIP) calculated at 0.15% of the base loan amount. For mortgages with a loan-to-value (LTV) ratio of 80.00%, the 0.15% monthly MIP will be paid for the first 11 years of the mortgage term. Thereafter, the monthly loan payment will consist of equal monthly principal and interest payments until the end of the loan.

15-year Fixed-Rate VA Loan: Payment assumes a loan-to-value (LTV) of 80.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

15-year Fixed-Rate VA Jumbo Loan: Payment assumes a loan-to-value (LTV) of 70.00%.

VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.

Assumptions
For all rates shown, unless otherwise noted, we assumed:

  • You’re buying a single-family home that’s your primary residence.
  • Closing costs will be paid up front, not rolled into the loan.
  • Your debt-to-income ratio is less than 43%.
  • Your credit score is 740.
  • You’ll have an escrow account for payment of taxes and insurance.

Explore the connection between rate and monthly payment

Mortgage calculator

Try different loan amounts, down payments, and interest rates to see how it changes monthly mortgage payments.

Home affordability calculator

Estimate your budget for a home, and the loan amount, monthly payment and interest rate you could prequalify for.

Discover your personalized rate

If you’re watching rates, what you see is rarely what you’ll get. Start an application or chat with an expert to see what your rate could be.

Many factors determine your 15-year mortgage rate

You can control some things that influence your interest rate, like your financial details. Other things, not so much. Here are some of the factors that impact rates.

Economic

The stock market, the Federal Reserve, inflation and the housing market all affect mortgage rates.

Personal

Your credit profile, your debt compared to your income, and how much you’re borrowing help determine your mortgage rate.

Loan type

Conventional, FHA and VA loans (mortgages for eligible military) are all available as a 15-year mortgage, but often have different rates.

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Pros and cons of a 15-year mortgage

Pros

You’ll pay less interest because of the shorter term.

Interest rates are typically lower because it doesn’t take as long for lenders to get reimbursed for the loan.

Build equity faster. Equity is the difference between what you owe on your home and its value. A 15-year term means you’ll pay your loan balance down more quickly, building equity.

Cons

Higher monthly payments because of the shorter term.

Lower home affordability. A higher mortgage payment increases your debt-to-income ratio, so you could prequalify for a lower amount.

Less money for savings. Higher monthly payments could leave less money for savings or other expenses.

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15-year mortgage rates frequently asked questions

Don’t see your question here? We love helping people understand how rates work and what yours could be. Just talk to us.

An interest rate is the percentage you’re charged to borrow money. The rate you’re charged for a home loan that takes 15 years to pay off is a 15-year mortgage rate.

Your home loan will have two main parts:

  • The amount you borrowed to buy your home and you’re paying back. This is called the principal.
  • The interest charged on the money you borrowed. Because it's fixed, your interest rate stays the same for as long as you have the loan.

In the beginning, most of your monthly payment goes toward paying interest. As your loan balance shrinks, more of your payment goes toward principal.

After 15 years of making regular monthly payments you’ll have paid off the entire loan and the house will be yours.

A mortgage rate lock keeps your interest rate from rising for a certain length of time.

You can consider locking your rate once you’ve found a home you want to buy and are ready to start getting your mortgage for it.

If the rate you’re getting gives you a monthly payment that fits your budget, and rates have been trending up, you might want to lock it. Your Home Loan Expert can help you understand if locking your rate makes sense for you.

The Federal Reserve is the central bank of the United States. It controls the federal funds rate: the interest rate banks charge each other to borrow money. The Federal Reserve changes the federal funds rate to help the economy, and these changes can make mortgage rates go up or down. Here are a couple of examples.

Changing the funds rate affects how much it costs banks to borrow money. If it's cheaper for banks to borrow, they can offer lower interest rates on loans, including mortgages. If it's more expensive for banks to borrow, they might charge higher interest rates on loans.

If investors think the Federal Serve will lower rates, they might buy more bonds, which can push mortgage rates down. If they think the Fed will raise rates, they might sell bonds, which can push mortgage rates up.

One thing these two loans share is a fixed rate: that means your interest rate stays the same as long as you have the loan. Here are some of the differences:

  • Size of monthly payment: Payments spread out over 15 years are higher than those spread out over 30 years.
  • Interest rate: A 15-year loan is paid back in half the time as a 30-year. So interest rates are usually lower, since the lender gets their money back sooner.
  • Interest paid: The longer the loan, the more interest you’ll pay, and vice versa.