Compare 15-year vs 30-year mortgage rates on September 30, 2026: FRED shows 30-year fixed at 7.03% and 15-year at 6.42%, a 61 bp spread.
As of the latest FRED release (September 24, 2026), the national average 30-year fixed mortgage rate stands at 7.03% while the 15-year fixed rate is 6.42%, producing a 61-basis-point spread. That gap is narrower than the 1.79% 10-year Treasury spread also recorded on the same date, underscoring how mortgage pricing remains elevated relative to benchmark yields.
Cross-checking multiple aggregators confirms the same directional trend. Bankrate lists a 30-year fixed rate of 7.17% (7.23% APR) versus a 15-year fixed rate of 6.54% (6.65% APR). Forbes Advisor reports a 15-year fixed APR of 6.55% and a 30-year jumbo APR of 7.42%. Zillow Home Loans shows a 30-year fixed rate of 6.75% with 1.62 points, illustrating how points and lender mix can shift the headline number by as much as 40–50 basis points.
| Source | 30-Year Fixed | 15-Year Fixed | Spread |
|---|---|---|---|
| FRED (9/24) | 7.03% | 6.42% | 0.61% |
| Bankrate | 7.17% | 6.54% | 0.63% |
| Freddie Mac | 7.03% | — | — |
Week-over-week data from the same FRED series show the 30-year rate rising 8 basis points from 6.95% to 7.03%, while the 15-year rate climbed 16 basis points from 6.26% to 6.42%. The spread therefore narrowed slightly, suggesting 15-year pricing is catching up as shorter-duration risk premiums adjust.
Over the past 15 months the 30-year/15-year spread has fluctuated between 0.67% and 0.86%. In July 2025, for example, the 30-year averaged 6.72% against a 15-year average of 5.86%, a 86-basis-point gap. Today’s 61-basis-point spread sits toward the tighter end of that range, indicating borrowers are paying relatively less of a premium for the longer term.
Using the FRED rates and zero points for simplicity:
The 15-year option saves $338,220 in interest but requires an 30% higher monthly payment.
State-level data from Bankrate show modest dispersion. In California the average 30-year rate is 7.21% versus 6.59% for the 15-year (spread 0.62%). In Texas the figures are 7.09% and 6.48% respectively (spread 0.61%). The tight clustering suggests national pricing still dominates over regional risk differences.
Borrowers weighing a 15-year versus 30-year mortgage should model breakeven points against their expected holding period and cash-flow flexibility. HomeRates.ai allows users to run live scenarios that incorporate taxes, insurance, and HOA fees to quantify the true monthly difference.
On September 30, 2026 the 15-year fixed mortgage rate is 61 basis points lower than the 30-year rate. For homeowners who can absorb the higher payment, the shorter term cuts lifetime interest by roughly 60% on a $400k loan. Those prioritizing liquidity or expecting to move within seven years may still favor the lower monthly obligation of the 30-year product.
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