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15-year-mortgage

A 15-Year Mortgage Can Save You $190K — If You Can Get It

One of the best ways to eliminate your mortgage debt is moving into a 15-year fixed-rate loan. With the average spread a full 1% compared to its 30-year mortgage counterpart, a 15-year mortgage can provide an increased rate of acceleration in paying off the biggest obligation of your life.

How lump-sum payment affects your mortgage

Dear Dr. Don, I switched to a 15-year mortgage about four years ago. There's now about 11 years left on the note. The interest rate is 4.75 percent. I'm curious how a $50,000 one-time payment made toward interest affects the payoff date.

Average rate on 30-year mortgage falls to 3.63 pct.

WASHINGTON (AP) — Average long-term U.S. mortgage rates fell for the fourth straight week, with the benchmark 30-year rate again marking its lowest level since May 2013. The average for a 15-year mortgage, a popular choice for people who are refinancing, slipped further below 3 percent.