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National 30-year fixed mortgage rates go up to 3.69%. Additionally, the current national average 15-year fixed mortgage rate increased 4 basis points from 3.15% to 3.19%. The current national average 5/1 ARM rate is equal to 3.60%.What is a 15 year mortgage rate?
A 15-year mortgage is a shorter-term fixed-rate loan. The loan will be paid off in half the time of a 30-year, but because the payback time is shorter, the monthly payments will be higher. However, the interest rate is usually lower than the rate on a longer-term loan, which means you will pay less. The 5/1 ARM rate is 2.243% .