15-Year Fixed mortgage rates
Average 30-year fixed 6.49% · Updated July 9, 2026 · Freddie Mac (FRED)
The 15-year fixed usually prices well below the 30-year and cuts lifetime interest by more than half — if the larger payment fits your budget.
The payment is higher because you retire the balance in half the time, but the rate discount and the shorter schedule combine to save a large share of total interest. It suits buyers with room in their budget and refinancers several years into a 30-year loan who don’t want to reset the clock.
Compare the two terms side by side before committing — the right answer depends on how long you’ll keep the loan and what else that extra monthly cash could earn.
15-Year Fixed rate FAQ
What is the current 15-year fixed rate?
As of July 9, 2026, the national average 15-year fixed rate is about 5.82%. On a $400,000 loan that works out to roughly $3,337 a month in principal and interest over 15 years.
Averages assume a well-qualified borrower — your quote depends on credit, down payment and lender.
Why is my quoted rate different from the average?
National averages assume strong credit, a solid down payment and a single-family primary home. Lower scores, smaller down payments, condos, second homes and cash-out all add pricing adjustments, so the average is a benchmark for judging quotes — not a promise.
Rates shown are national weekly averages for general guidance, not an offer or personalized quote. Payment estimates assume the down payment noted plus estimated taxes and insurance. Confirm current pricing with a licensed lender.