Current 15-year vs 30-year mortgage rates show a 67 bp spread; see the latest FRED data and what it means for borrowers on September 10, 2026.
As of the most recent FRED observation (September 3, 2026), the national 30-year fixed-rate mortgage averaged 6.71 % while the 15-year fixed-rate mortgage averaged 6.04 %, producing a 67-basis-point spread. The same data set shows the 10-year Treasury yield at 4.8 %, leaving a 1.91 % mortgage-to-Treasury spread.
Between August 27 and September 3, the 30-year fixed rate rose 5 basis points (6.66 % → 6.71 %), whereas the 15-year fixed rate fell 4 basis points (6.08 % → 6.04 %). The net effect narrowed the 15-year/30-year spread by 9 basis points in a single week.
Twelve months earlier, the 30-year fixed averaged 6.58 % and the 15-year fixed averaged 5.96 %. Year-over-year, the 30-year rate is 13 basis points higher and the 15-year rate is 8 basis points higher, keeping the spread range-bound between 60 and 75 basis points for most of 2026.
| Term | Interest Rate | APR | 30-day Δ | 90-day Δ |
|---|---|---|---|---|
| 30-Year Fixed | 6.875 % | 6.923 % | –0.125 % | –0.250 % |
| 15-Year Fixed | 6.125 % | 6.198 % | –0.063 % | –0.188 % |
| 5/6 ARM | 6.250 % | 7.012 % | +0.063 % | –0.125 % |
Source: Mortgage Research Center, updated September 9, 2026.
On a $400,000 loan, the 30-year payment at 6.71 % is $2,585 per month; the same balance at 6.04 % for 15 years costs $3,386 per month—an additional $801 but full repayment in half the time. Total interest paid drops from roughly $531,000 on the 30-year to $210,000 on the 15-year.
Redfin data shows that markets with higher median home prices—San Francisco ($1.35 M) and Seattle ($825 k)—exhibit a slightly wider 15-year/30-year spread of 70–75 basis points, while lower-cost metros such as Atlanta and Phoenix post spreads closer to 60 basis points, reflecting lender competition and average credit profiles.
The 15-year product carries lower duration risk for investors, so pricing reacts more quickly to Treasury moves. When the 10-year yield rises, 15-year mortgage rates typically follow within one week; 30-year rates lag by an additional three to five days, temporarily compressing or expanding the spread.
Borrowers who can absorb the higher monthly outlay save more than $320,000 in interest by choosing the 15-year fixed at today’s 67-basis-point spread. To test how the spread affects your specific loan size and timeline, run live scenarios at HomeRates.ai.
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