Current 15-year vs 30-year mortgage rates show a 0.69-point spread, with 30-year at 7.4% and 15-year at 6.71% as of October 20, 2026.
As of Tuesday, October 20, 2026, the 30-year fixed mortgage rate stands at 7.4% and the 15-year fixed mortgage rate at 6.71%, according to the latest FRED data released October 15. The spread between the two products is 0.69 percentage points. This gap is narrower than the 2.31-point spread between the 30-year mortgage and the 10-year Treasury yield (5.09%).
The 30-year fixed rate has fluctuated between 6.65% and 7.56% across sources this month. ROI TV and Realty Times report an average 30-year rate of 6.65%, while Bankrate lists 7.56% and Mortgage News Daily shows 7.43%. The 15-year fixed rate ranges from 5.95% (ROI TV) to 6.87% (Bankrate). The spread between 30-year and 15-year products has therefore varied between 0.70 and 0.69 points depending on the data set.
| Source | 30-Year Rate | 15-Year Rate | Spread | Date |
|---|---|---|---|---|
| FRED | 7.40% | 6.71% | 0.69 pp | Oct 15, 2026 |
| ROI TV | 6.65% | 5.95% | 0.70 pp | Oct 20, 2026 |
| Bankrate | 7.56% | 6.87% | 0.69 pp | Oct 20, 2026 |
| Mortgage News Daily | 7.43% | — | — | Oct 14, 2026 |
Compared with one year ago, the 30-year rate is up 0.07 points (6.58% → 6.65%) and the 15-year rate is up 0.26 points (5.69% → 5.95%) per ROI TV.
A borrower financing $400,000 sees the following monthly principal-and-interest payments:
The 15-year loan costs $756 more each month but saves $335,000 in total interest over the life of the loan. The shorter term also builds equity nearly twice as fast.
Lenders price the 15-year product lower because shorter duration reduces interest-rate risk and default exposure. Treasury market volatility and the Federal Reserve’s balance-sheet policy continue to influence both rates, yet the 15-year/30-year spread has remained relatively stable near 0.70 points since September.
State-level data released by Bankrate on October 20 show the 30-year fixed rate ranging from 7.29% in Texas to 7.62% in New York, while the 15-year rate spans 6.66% (Texas) to 7.01% (New York). The spread stays within 0.02 points of the national average in every state sampled.
For borrowers who can afford the higher monthly payment, the 15-year fixed mortgage currently offers a 0.69-point rate advantage and substantial long-term interest savings. Homeowners planning to stay in their property beyond ten years should run live scenarios at HomeRates.ai to quantify the break-even point between the two terms based on their exact loan size and timeline.
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