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Current 15 Year Mortgage Rates Averaging 2.81%: Best Rates Available at 2.25%

Current mortgage rates on 15 year conforming loans are averaging 2.81 percent today. Average 15 year rates are just above record lows of 2.74 percent set back in October. In the coming year we will probably see average 15 year rates make new lows around 2.65 percent but you can already find many lenders quoting 15 year mortgage refinance rates well below these rates with and without mortgage discount points.

Mortgage points allow you to buy down the mortgage rate by paying money upfront at closing. 1 point is equal to 1 percent of the loan. If you're planning on staying in a home for a long time getting a lower mortgage rate by buying the rate down will save you a lot of money in interest payments in the long run.

I should also mention getting a 15 year loan instead of a 30 year loan will save you even more money in interest payments. Depending on the mortgage loan amount you will save ten of thousands or even hundreds of thousands of dollars in mortgage interest, plus you own your home outright in 15 years instead of 30 years. The only drawback is your monthly mortgage payments will be higher with a 15 year loan but if you can afford the payments you're definitively better off with a 15 year loan.

If you're comparing 15 year mortgage rates to buy a home or comparing 15 year refinance rates to refinance your currently loan you're come to the right place. Depending on the state you live in we list interest rates from dozens of lenders with different point combinations and rates. When you use our rate tables you can easily sort the results by lender, mortgage rate, or the annual percentage rate (APR).

To give you can example of how low lenders quote rates on our rate tables right now on our 15 year conforming rate list for the state of Texas we have one lender offering 15 year refinance rates at 2.25 percent with less then 2 mortgage points. The lowest 15 year refinancing rate without points on our Texas list is at 2.50 percent. If you're looking for jumbo mortgage rates right now on our jumbo rate list for Texas the lowest rate overall is at 2.875 percent without points!

Other states we have lenders quoting refinance rates on 15 year conforming loans include Florida where the lowest rate is at 2.375 percent with less than 1.5 mortgage points. The lowest Florida refinance rate for a 15 year loan without points is at 2.625 percent. Mortgage rates today on 15 year jumbo loans in Florida can be found as low as 2.875 percent with zero points.

Feel free to browse your 15 year mortgage rate list in your state so you can find the best rates available. Most mortgage websites require you to practically sign up for a loan and provide your contact information to view a list of rates. On  you can view a list of rates without providing any contact information.
Author: Robert Till
December 11th, 2012