15-Year Fixed mortgage rates
15-year fixed: latest weekly average 6.57% · week of Nov 5, 2026 · Freddie Mac PMMS · new data every Thursday
The 15-year fixed prices below the 30-year and retires the loan in half the time. The real question is whether the larger payment fits your budget — the side-by-side below shows the payment gap and the interest you save.
15-Year Fixed mortgage rates: chart & history
Over the past 52 weeks the 15-year fixed average ranged from 5.35% (Feb 19, 2026) to 6.73% (Oct 8, 2026); today's 6.57% is 0.16 percentage points below the high. Weekly Freddie Mac averages, from the last 30 days to 5 years.
- Now
- 6.57%
- Nov 5, 2026
- 1 week ago
- 6.60%
- −0.03 pts
- 1 month ago
- 6.73%
- −0.16 pts
- 1 year ago
- 5.50%
- +1.07 pts
15-year fixed: Freddie Mac PMMS (rate), weekly. National series.
Longer view: the mortgage rates chart since 1971, with rates by year and the 10-year Treasury.
15-year vs. 30-year at today's rates
A $400,000 loan at today's averages — 6.57% for 15 years, 7.18% for 30:
| 15-year | 30-year | |
|---|---|---|
| Monthly principal & interest | $3,500 | $2,710 |
| Total interest | $229,971 | $575,506 |
The 15-year costs $790 more a month and saves $345,535 in interest — about 0.61 percentage points of rate plus half the time. Fannie Mae also skips its credit-score price adjustment on terms of 15 years or less, so the rate gap is wider for lower scores.
15-Year Fixed payments by loan amount
Monthly principal and interest at today's 6.57% average. Property tax, homeowners insurance and any PMI come on top — each row opens the calculator with that loan (20% down) filled in.
| Loan amount | Monthly P&I | Interest over 15 yrs | Calculator |
|---|---|---|---|
| $200,000 | $1,750 | $114,986 | Calculate |
| $250,000 | $2,187 | $143,732 | Calculate |
| $300,000 | $2,625 | $172,478 | Calculate |
| $350,000 | $3,062 | $201,225 | Calculate |
| $400,000 | $3,500 | $229,971 | Calculate |
| $450,000 | $3,937 | $258,718 | Calculate |
| $500,000 | $4,375 | $287,464 | Calculate |
| $600,000 | $5,250 | $344,957 | Calculate |
| $700,000 | $6,125 | $402,450 | Calculate |
| $800,000 | $7,000 | $459,943 | Calculate |
Is my 15-year fixed rate competitive?
Enter the rate from your quote or Loan Estimate. It's compared with today's national average and that average's 52-week range — the survey assumes strong credit and 20% down, so treat it as a yardstick, not a promise.
An example rate is filled in — replace it with yours. Adding a credit score adjusts the yardstick by Fannie Mae's official price adjustments (rates by credit score).
A little above the average. That's common when the credit score or down payment is below the survey's assumptions (strong credit, 20% down) or the home is a condo — ask the lender which price adjustment applies, and compare two more quotes.
Shaded: the average's 52-week range, 5.35%–6.73%.
- Your payment
- $3,567/mo
- principal & interest at 6.875%
- At today's average
- $3,500/mo
- 15-year fixed average, 6.57%
- 5 years of payments
- +$4,055
- $68 a month more than at the average
Have quotes from several lenders? Compare up to three side by side — payment, cash up front, APR and when points pay back.
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?
The national average 15-year fixed rate is about 6.57% (Freddie Mac PMMS, Nov 5, 2026). On a $400,000 loan that works out to roughly $3,500 a month in principal and interest over 15 years.
Averages assume a well-qualified borrower; your quote depends on credit, down payment and lender.
What is a good 15-year fixed mortgage rate right now?
A quote at or below today's 6.57% weekly average (Freddie Mac, Nov 5, 2026) is a good 15-year fixed rate for a borrower with strong credit and 20% down. Over the past 52 weeks that average ranged from 5.35% to 6.73%.
Quotes for the same borrower routinely differ by a quarter point or more between lenders, so a rate within about 0.25 percentage points of the average is competitive; much more than that is worth questioning. Test yours in the rate check above.
How much does a 15-year mortgage save versus a 30-year?
On $400,000 at today's averages, the 15-year saves about $345,535 in interest but costs about $790 more each month ($3,500 vs $2,710). It is worth it only if the higher payment still leaves room for savings and emergencies.
How much is a $500,000 mortgage for 15 years?
At today's 6.57% 15-year fixed average, about $4,375 a month in principal and interest, and $287,464 of interest over 15 years. Property tax, homeowners insurance and any mortgage insurance come on top. Payments for other loan amounts are in the table above.
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 figures are principal and interest, plus mortgage insurance or program fees only where a row says so; property tax and homeowners insurance are not included. Confirm current pricing with a licensed lender.