Fixed-rate mortgages are among the most commonly considered home financing options because the interest rate is generally established for the life of the loan.
The two terms borrowers most often compare are 30-year and 15-year fixed mortgages, although other repayment periods can also be available.
A longer term can provide a lower required monthly principal-and-interest payment, while a shorter term can reduce the time needed to repay the balance and may result in less interest over the life of the loan.
Our Current 30-Year Mortgage Rates Explained and 15-Year Mortgage Rates Today Explained articles provide more detailed information about these two common loan terms.
Borrowers comparing fixed financing with an adjustable option can also review Fixed or Adjustable Mortgage: Which Is Better for Me? before choosing a structure.
When comparing mortgage rates, look beyond the advertised interest rate and consider the APR, closing costs, points, loan term, and other charges that affect the overall cost of borrowing.
R Singha, MortgageRatesCheckerMortgage Rates by Year
Mortgage rates have changed significantly over the years, affecting how much homebuyers pay each month and how affordable a home can feel. The chart above lets you quickly compare average mortgage rates from 2010 through 2025 and see how borrowing costs moved over time. Rates fell to historic lows around 2020 and 2021 before rising sharply in the following years. Looking at these yearly averages can help put today’s mortgage rates into perspective and give you a better understanding of how changing interest rates can affect home-buying and refinancing decisions.
Don’t Miss These
Quick Links
Mortgage Quick Tools
About Us
We’re MortgageRatesChecker, a trusted mortgage information resource focused on helping consumers navigate home buying, refinancing, mortgage rates, and loan options with confidence. We simplify complex mortgage topics through expert-written guides, calculators, and educational content designed to support informed financial decisions. Explore our mortgage calculators, guides, and resources.
Disclaimer
MortgageRatesChecker provides educational mortgage calculators, loan tools, and financial guides designed to help you better understand home financing. Our content is researched, fact-checked, and regularly updated in accordance with our Editorial Policy, using trusted information from our Data Sources and transparent methodologies explained in How We Calculate. Learn more about our commitment to accuracy on Why Trust Us. This content is provided for informational purposes only and should not be considered financial, legal, tax, investment, or mortgage advice. Mortgage rates, lending requirements, loan programs, and regulations may change without notice. Before making any borrowing, refinancing, or home-buying decision, consult your Bank or Mortgage Lender, licensed financial advisor, tax professional, or attorney based on your individual circumstances. MortgageRatesChecker is an independent educational resource and is not a lender, mortgage broker, financial advisor, or government agency. Please review our Affiliate Disclosure, Advertiser Disclosure, Disclaimer, and Terms & Conditions for additional information.
More Mortgage Resources
September 22, 2026
September 22, 2026
September 22, 2026
September 22, 2026
September 22, 2026
September 22, 2026
