You can find the best fixed rate mortgage deals in all its forms: for 15, 30, 40 or even 50 years. By reading this, you must be thinking that the best option would be to draw a 50-year fixed mortgage because it is the one that provides you with a longer amortization period. However, the 15-year one is usually within the best fixed rate mortgage deals. How come? Well, because it offers a better interest rate than the rest. Plus, it allows you to repay the debt sooner.
On the other hand, even being among the best fixed rate mortgage deals, a 15-year mortgage will result in higher monthly payments. What places 30-year mortgages within the best fixed rate mortgage deals is precisely lower monthly payments.