The average interest rate for a 30-year, fixed-rate conforming mortgage loan in the U.S. is 7.079%, up from the day before, according to data from Mortgage Research Center. Meanwhile, the average rate for a 15-year, fixed-rate conforming mortgage loan is 6.303%, up for the same time period. We ran the numbers through the mortgage calculator provided by the federal government’s Office of Financial Readiness. At the current rate of 7.079%, on a 30-year mortgage where you borrow $300,000, you’d pay roughly $424,265.30 in interest over the life of the loan. On a 15-year mortgage with the same loan amount used for the estimate, you’d pay roughly $164,569.89 in interest over the life of the loan at the current rate of 6.303%.

 

To continue reading the rest of the article, please click on the source link below;

https://fortune.com/article/current-mortgage-rates-09-16-2026/