Across the United States 88% of home buyers finance their purchases with a mortgage. Of those people who finance a purchase, nearly 90% of them opt for a 30-year fixed rate loan. The 15-year fixed-rate mortgage is the second most popular home loan choice among Americans, with 6% of borrowers choosing a 15-year loan term.
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A number of 15-year fixed interest rate mortgages have hit the market offering. “Now is an ideal time for lenders to look at offering a 20-year fix, or better still a 25- or 30-year. I expect to.
· If you can afford a 15-year mortgage vs 30 years, you’ll save a bundle. Before you borrow, learn the pros and cons of 15- and 30-year fixed rate mortgages.
A 20-year fixed-rate mortgage splits the difference between the most common, a 30-year-fixed rate mortgage, and the most ambitious, a 15-year fixed rate mortgage.Get current interest rates for 20.
Compare 20-year fixed mortgage rates. A 20-year fixed-rate mortgage is a home loan that can be paid off in 20 years. Find and compare current 20-year fixed mortgage rates from lenders in your area.
· ”There are quite a few reasons I feel more people should refinance or purchase into a 20-year fixed-rate mortgage rather than looking at a 30-year or a 15-year fixed rate mortgage,” Jerry Robinson, broker/owner of 1st Choice Mortgage Co. in Meridian, Idaho, said in an e-mail.
15- and 20-year fixed-rate mortgages. With a short loan term and lower interest rate, a 15-year fixed-rate mortgage or 20-year fixed-rate mortgage can help you pay off your home faster and build equity more quickly, although your monthly payments will be higher than with a 30-year loan. The 15- and 20-year fixed-rate mortgages are especially popular for refinancing.
30 year fixed mortgage rate programs is the most popular mortgage loan program; There are also 25 year fixed rate mortgage rate programs, 20 year fixed mortgage rate programs and the 15 year fixed rate program; The biggest advantage of Refinancing 30 Year Fixed Rate Loan To 15 Year Fixed Mortgage Rate is the amount of interest savings
30-year fixed-rate. in mortgage rates, economic data improved this week – particularly housing activity, which gained momentum with a noticeable rise in purchase demand and new construction," said.