The mortgage interest rate on a 30-year fixed mortgage is 7.16%, while the average rate on a 15-year fixed mortgage is 6.30%.
The APR on a 30-year fixed-rate mortgage is 7.18%.
A monthly payment for a $100,000 30-year fixed-rate mortgage at 7.16% would be approximately $676, totaling around $143,463 in interest over the loan term.
Different types of loans and programs are available to borrowers based on their credit, finances, and eligibility.