*Interest rates differ because 15-year fixed rate mortgages typically have lower interest rates than a 30-year fixed rate. Your monthly payments are $466 lower with a 30-year loan, but you pay an.
March 01, 2016 14:00 ET | Source: Zillow Group, Inc. SEATTLE, March 01, 2016 (GLOBE NEWSWIRE) — The 30-year fixed mortgage rate on Zillow® Mortgages is currently 3.46 percent, down one basis point.
This fixed rate mortgage is a home loan with an interest rate that remains the same throughout the 30 year term. At the end of the 30 year repayment period, the loan is fully amortized. This means that the total principal (the face value of the loan) has been paid off in full in multiple installments.