With 15-year fixed mortgage rates at 5.55%, homeowners who refinanced at higher rates or who have the cash flow to handle larger payments are locking in significant interest savings.
The rate gap between 15- and 30-year mortgages has widened to 83 basis points, making the shorter term particularly attractive for those prioritizing long-term wealth building.
Lenders report strong demand for 15-year products from empty-nesters and high-income professionals who want to pay off mortgages before retirement.
