Compare the 15-year vs 30-year mortgage rate spread on August 1, 2026, with live FRED data and APRs from 6.66% to 5.88%.
On August 1, 2026, the spread between the 30-year and 15-year fixed mortgage rates stands at 0.839 percentage points. The 30-year fixed rate averages 6.721% (APR 6.761%), while the 15-year fixed rate averages 5.882% (APR 5.948%). These figures, updated July 31, 2026, reflect new-purchase loans and are sourced from live market feeds.
FRED data for July 30, 2026, show the 30-year fixed rate at 6.66% and the 15-year fixed rate at 6.04%, producing a 0.62-point spread. The 10-year Treasury yield closed at 4.68% on the same day, resulting in a 1.98-point gap between the 10-year Treasury and the 30-year mortgage rate.
Over the past 30 days, the 30-year rate has risen 0.142 percentage points and the 15-year rate has risen 0.156 points. Over 90 days, the increases are 0.311 points and 0.301 points, respectively. The spread has remained relatively stable, fluctuating between 0.82 and 0.86 points.
| Loan Amount | 30-Year @ 6.721% | 15-Year @ 5.882% |
|---|---|---|
| $300,000 | $1,943 | $2,523 |
| $400,000 | $2,591 | $3,364 |
| $500,000 | $3,239 | $4,205 |
The table illustrates that the monthly payment on a 15-year mortgage is 30% higher, yet total interest paid over the life of the loan is roughly 60% lower.
Rate differentials are consistent across major markets. In the Dallas-Fort Worth metro, the average 30-year rate is 6.74% and the 15-year rate is 5.91%. In the New York metro, the 30-year rate is 6.78% and the 15-year rate is 5.95%. Borrowers in both regions see a 0.83-point spread, mirroring the national average.
Lenders price the 15-year product more tightly because shorter terms reduce duration risk. Borrowers with credit scores above 740 and at least 20% equity typically receive the tightest spreads. FICO data indicate that a 20-point credit score increase can narrow the spread by an additional 0.05–0.07 points.
The 5/6 ARM rate sits at 6.222% (APR 6.302%). This hybrid product offers a 0.50-point discount versus the 30-year fixed but carries reset risk after five years. For homeowners planning to sell within seven years, the ARM can produce lower lifetime interest than either fixed-rate option.
FHA 30-year loans average 6.101%, narrowing the spread versus conventional 30-year loans to 0.62 points. However, FHA mortgage insurance premiums add 0.55% annually, offsetting much of the rate advantage for borrowers who stay longer than seven years.
On August 1, 2026, the 15-year vs 30-year mortgage rate spread is 0.839 points. Borrowers who can absorb the higher monthly payment on a 15-year loan will save approximately $90,000 in interest on a $400,000 mortgage. Run live scenarios at HomeRates.ai to model exact payments for your credit profile and timeline.
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