Current 15-year vs 30-year mortgage rates show a 0.61% spread; see the latest Freddie Mac and FRED data for November 2026.
As of November 5, 2026, the 30-year fixed-rate mortgage averaged 7.18% while the 15-year fixed-rate mortgage averaged 6.57%, according to FRED data. The resulting spread of 0.61 percentage points remains near the middle of the 0.50–0.70 range observed since early 2025.
Freddie Mac’s Primary Mortgage Market Survey for the week ending October 29, 2026, reported a 30-year fixed average of 7.24% and a 15-year fixed average of 6.60%, confirming a 0.64 percentage-point gap. Bankrate’s November 5 snapshot showed 7.22% for the 30-year and 6.60% for the 15-year, yielding the same 0.62-point spread. These figures indicate that the 15-year vs 30-year mortgage rate differential has been stable despite recent volatility in the 10-year Treasury yield, which closed at 4.84% on November 5.
Lenders price the 15-year product at a lower rate because shorter loan terms carry less interest-rate and prepayment risk. Investors also demand less compensation for duration risk on a 15-year mortgage-backed security than on a 30-year security. The 2.34-percentage-point gap between the 30-year mortgage rate and the 10-year Treasury yield reflects both the 15-year/30-year differential and the additional credit, servicing, and guarantee fees embedded in mortgage pricing.
One year earlier, the 30-year fixed averaged 6.17% and the 15-year fixed averaged 5.52%, producing a 0.65-point spread—nearly identical to today’s level. The consistency suggests that the 15-year vs 30-year mortgage rate spread is largely structural rather than cyclical, fluctuating within a narrow band even as the overall rate environment changes.
| Term | Rate | Principal & Interest* | Total Interest over Life |
|---|---|---|---|
| 30-Year | 7.18% | $2,041 | $434,760 |
| 15-Year | 6.57% | $2,750 | $195,000 |
*Payment and interest figures assume a $300,000 loan amount, single-family primary residence, and no additional fees. Borrowers can run live scenarios at HomeRates.ai to adjust loan size, taxes, and insurance.
Rate spreads are nearly uniform nationwide, but absolute levels vary slightly. In the Mountain West, the 30-year fixed averaged 7.21% and the 15-year fixed 6.58% during the week of November 3, according to Optimal Blue. In the Northeast, the same products printed 7.16% and 6.55%, respectively—maintaining a 0.61-point spread in both regions.
Homeowners who took out 30-year loans above 7.5% in 2023–2024 may now qualify for a 15-year refinance at 6.57%. The monthly payment increase is typically offset within eight to ten years by interest savings, provided the borrower plans to remain in the home long enough to recoup closing costs.
The 15-year vs 30-year mortgage rate spread stands at 0.61 percentage points as of November 9, 2026. Borrowers who can absorb the higher monthly outlay of a 15-year loan lock in substantial interest savings and build equity faster; those prioritizing cash-flow flexibility continue to favor the 30-year product. Monitor FRED and Freddie Mac releases each Thursday for updates to the spread.
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