vs Last Week
+0.04 pts
Up slightly from 5.90%. Mortgage rates moved in lockstep with 10Y Treasury.
Today's 15-Year Fixed Mortgage Rate
U.S. Weekly Average
5.94
%
+0.04 pts
vs. last week (5.90%)
Past 12 monthsRange 5.62 – 6.32
vs Last Year-0.32
5-Yr Avg4.55%
vs 30-Yr-0.84
15-year rates sit 84 basis points below the 30-year today — close to the historical norm. A $400K loan at 5.94% pays $1,100 more per month than the 30-year option, but saves $331,000 in lifetime interest.
Historical trend
Weekly Freddie Mac PMMS averages.
Source: FRED · MORTGAGE15US
The long view: since 1991
Thirty-five years of 15-year fixed mortgages.
Cycle Peak 7.03% · Oct 2023
Trough 2.10% · Aug 2020
Today 5.94%
How today stacks up
vs Last Year
−0.32 pts
Down from 6.26%. Saves ~$70/mo on a $400K loan.
5-Year Average
4.55%
Skewed by 2020–21 lows. Today is 139 bps above the 5-yr mean.
Spread vs 30-Yr
−0.84 pts
Right at the historical norm (typically 80–100 bps tighter).
Use this rate
Tools that take 5.94% and run with it.
Mortgage Calculator
Compare 15-year vs 30-year payments side by side. See lifetime interest savings.
OpenRefinance Calculator
Refi your 30-year into a 15-year. See break-even month for closing costs.
OpenHome Affordability
How much home can you afford at 15-year terms with your income and debts?
OpenAbout the 15-Year Fixed Mortgage Rate
The 15-year fixed mortgage is the second-most common U.S. home loan after the 30-year fixed. It pays the home off in half the time, but the trade-off is a roughly 40–60% higher monthly payment. Lenders accept lower rates on 15-year loans because the shorter term means less interest-rate risk for them — the typical spread is 80–100 basis points below the 30-year rate.
When the 15-year math wins
At today's spread (-84 bps vs 30-year), a $400,000 loan saves about $130,000 in total interest over the life of the loan when financed at 15-year terms — but costs about $1,100 more per month. The break-even is whether you'd actually invest that $1,100/month gap in something earning more than the 30-year rate. Historically, that's been a coin flip — the S&P 500 has averaged 10% (well above any recent mortgage rate), but discipline to actually invest the difference is the real variable.
Reading this chart
Today's 5.94% is well above the 2020–21 lows (under 2.5%) but in line with the long-run 15-year average. The 2022–24 spike to over 7% was driven by the same Fed tightening cycle that pushed 30-year rates near 8%. The 15-year tracks the 30-year closely with the spread varying between 60 and 110 bps depending on market conditions.
Related trackers
Other live numbers that move with — or against — this one.
Frequently asked
What this number means, and what it doesn't.
On a $400K loan at today's rates: 30-year at 6.78% = $2,602/mo + ~$536K total interest. 15-year at 5.94% = $3,363/mo + ~$205K total interest. You pay $761/mo more but save $331K in interest. Whether it's "worth it" depends on whether you'd actually invest the difference.
Shorter loans carry less interest-rate risk for lenders (they get the principal back faster, so they're less exposed to rising rates over the loan's life). The typical spread is 80–100 basis points. The spread widens during rate-hike cycles and narrows when rates are expected to fall.
Yes — Freddie Mac and most lenders offer 20-year fixed mortgages, but they're much less common. Rates typically sit between 15- and 30-year rates. They're a compromise for borrowers who want faster payoff but can't afford the 15-year payment.
Generally only if you can comfortably afford the higher payment and don't plan to move within 5–7 years. Closing costs typically run 2–5% of the loan, and the break-even on interest savings vs those costs can take years. Use the Refinance Calculator below to model it for your situation.
Methodology
Source
Pulled from FRED · MORTGAGE15US and cached on the EvvyTools server.
Update schedule
Refreshed automatically by our cron whenever the upstream source publishes a new value. Historical values are not revised after publication.
How we compute
Display value is the raw published number, unrounded. Comparison stats use the closest available reference date. We never edit the underlying data.