[{"data":1,"prerenderedAt":99},["ShallowReactive",2],{"term:mortgage":3},{"term":4,"related":86},{"id":5,"title":6,"body":7,"category":65,"description":66,"extension":67,"faq":68,"meta":72,"navigation":73,"path":74,"related":75,"seo":79,"stem":80,"takeaways":81,"__hash__":85},"terms\u002Fterms\u002Fmortgage.md","Mortgage",{"type":8,"value":9,"toc":58},"minimark",[10,15,19,22,26,34,38],[11,12,14],"h2",{"id":13},"understanding-mortgage","Understanding Mortgage",[16,17,18],"p",{},"If the borrower stops paying, the lender can take the home through foreclosure. In exchange for that security, mortgages usually have lower rates and longer terms than other loans.",[16,20,21],{},"A fixed-rate mortgage keeps the same rate for the whole term, often 15 or 30 years. An adjustable-rate mortgage (ARM) starts with a fixed period, then resets periodically with market rates.",[11,23,25],{"id":24},"in-2026","In 2026",[16,27,28,29,33],{},"Freddie Mac's weekly survey put the average 30-year fixed mortgage rate at ",[30,31,32],"strong",{},"7.32%"," on October 22, 2026, and the 15-year fixed at 6.68%. A year earlier, the 30-year average was about 6.27%. Rates change weekly; check the latest survey before comparing offers.",[11,35,37],{"id":36},"sources","Sources",[39,40,41,51],"ul",{},[42,43,44],"li",{},[45,46,50],"a",{"href":47,"rel":48},"https:\u002F\u002Fwww.freddiemac.com\u002Fpmms",[49],"nofollow","Freddie Mac: Primary Mortgage Market Survey",[42,52,53],{},[45,54,57],{"href":55,"rel":56},"https:\u002F\u002Ffred.stlouisfed.org\u002Fseries\u002FMORTGAGE30US",[49],"FRED: 30-year fixed mortgage average",{"title":59,"searchDepth":60,"depth":60,"links":61},"",2,[62,63,64],{"id":13,"depth":60,"text":14},{"id":24,"depth":60,"text":25},{"id":36,"depth":60,"text":37},"personal-finance","A loan used to buy property, with the property itself as collateral.","md",[69],{"q":70,"a":71},"Is a 15-year or 30-year mortgage better?","A 15-year loan costs far less interest but has higher monthly payments. A 30-year loan is more affordable monthly and more flexible.",{},true,"\u002Fterms\u002Fmortgage",[76,77,78],"amortization","annual-percentage-rate","credit-score",{"title":6,"description":66},"terms\u002Fmortgage",[82,83,84],"A mortgage is a loan secured by the property.","Fixed-rate loans give predictable payments; ARMs can change.","A shorter term means higher payments but much less total interest.","0mv_gec1TMg-tIR8OQ6LfQ26aHoKpJYZIjrGBv785LM",[87,91,95],{"title":88,"description":89,"path":90},"Amortization","Paying off a loan in regular installments that cover both interest and principal.","\u002Fterms\u002Famortization",{"title":92,"description":93,"path":94},"Annual Percentage Rate (APR)","The yearly cost of borrowing, including interest and certain fees, as a percentage.","\u002Fterms\u002Fannual-percentage-rate",{"title":96,"description":97,"path":98},"Credit Score","A number that summarizes how likely you are to repay borrowed money, based on your credit history.","\u002Fterms\u002Fcredit-score",1793374005479]