Live 30-year vs 15-year mortgage rates on August 11 2026 show a 0.68% spread; see how the gap affects monthly payments and total interest.
On Tuesday, August 11, 2026, the 30-year fixed mortgage rate sits at 6.69% while the 15-year fixed rate is 6.01%, according to FRED data released August 6. The resulting 68-basis-point spread is narrower than the 85-basis-point gap recorded earlier in the year when the 30-year averaged 6.83% and the 15-year 5.98%.
The current spread remains well below the 100-plus basis-point gaps seen in late 2023, when 30-year rates exceeded 7% and 15-year rates hovered near 6.3%. The compression reflects a flatter yield curve: the 10-year Treasury closed at 4.69% on August 6, leaving a 200-basis-point mortgage-to-Treasury spread for the 30-year product.
| Term | Rate (Aug 11 2026) | Rate (Aug 7 2026) | Change | Spread vs 30-yr |
|---|---|---|---|---|
| 30-year fixed | 6.69% | 6.83% | –0.14% | — |
| 15-year fixed | 6.01% | 5.98% | +0.03% | 0.68% |
| 20-year fixed | — | 6.75% | — | — |
| 10-year fixed | — | 6.29% | — | — |
Source: FRED 2026-08-06 and lender surveys published August 10.
Using the prevailing rates, a borrower financing $400,000 faces the following principal-and-interest obligations:
The 15-year option saves roughly $318,000 in interest but requires an additional $808 per month.
Metropolitan data collected August 10 show modest dispersion. In the Atlanta metro, the average 30-year rate was 6.71% and the 15-year 6.03%; in Seattle, the 30-year was 6.64% and the 15-year 5.97%. These differences largely track state-level pricing adjustments rather than local credit risk.
Analysts surveyed in early August project the 30-year fixed rate will remain between 6.4% and 6.7% through year-end, assuming the 10-year Treasury stays near 4.5–4.8%. A sustained decline in Treasury yields would likely compress the 30/15 spread further, as 15-year pricing is more sensitive to the intermediate segment of the yield curve.
Choosing between the two terms hinges on cash-flow flexibility and time horizon. Households expecting stable or rising income over the next decade may favor the 15-year term to minimize interest cost. Conversely, those prioritizing liquidity or planning to relocate within seven years often select the 30-year to keep monthly obligations lower.
Readers who want to model different down-payment sizes, credit-score scenarios, or prepayment strategies can run live scenarios at HomeRates.ai.
At 6.69% versus 6.01%, the 15-year mortgage still offers a 68-basis-point discount. Borrowers able to absorb the higher payment will save approximately $318,000 in interest on a $400,000 loan; those needing lower monthly cash outlays will continue to find value in the traditional 30-year product.
FRED data, market analysis, and refi alerts — weekly, no spam.
No spam. Unsubscribe any time.
See how today's rates affect your real numbers — run a live mortgage scenario instantly.
Run a Live Scenario →