U.S. mortgage rates
The current U.S. 15-year fixed mortgage rate is 6.617% as of Oct 15, 2026, based on Optimal Blue rate-lock data published by FRED.
Down 19 basis points from Oct 14, 2026.
This national average covers locked 15-year fixed mortgages across the United States. A 15-year loan repays principal faster than a 30-year loan, so its rate and monthly-payment structure are different.
It is a national locked-rate average, not a guaranteed rate for any borrower.
Source
Optimal Blue / FRED
Measure
Locked-loan average
Data through
Oct 15, 2026
Latest 90 published observations for 15-Year Fixed.
A crawlable record of the latest values, with each row compared with the prior valid observation.
High across 30 observations
6.807% · Oct 14, 2026
Low across 30 observations
5.955% · Sep 2, 2026
Net change since Sep 2, 2026
+66 bps
| Observation date | Rate | Change from prior observation |
|---|---|---|
| Oct 15, 2026 | 6.617% | −19 bps |
| Oct 14, 2026 | 6.807% | +8 bps |
| Oct 13, 2026 | 6.722% | +13 bps |
| Oct 9, 2026 | 6.593% | −14 bps |
| Oct 8, 2026 | 6.735% | −7 bps |
| Oct 7, 2026 | 6.806% | +27 bps |
| Oct 6, 2026 | 6.535% | −26 bps |
| Oct 5, 2026 | 6.796% | +14 bps |
| Oct 2, 2026 | 6.653% | −3 bps |
| Oct 1, 2026 | 6.681% | +6 bps |
Weekends, holidays, and missing observations are skipped. A basis point is 0.01 percentage point.
A reproducible $300,000 principal-and-interest illustration using each series' latest labeled observation.
The table uses the same $300,000 principal and the latest national locked-rate averages. It separates the effect of rate and term: a lower 15-year rate does not automatically mean a lower payment because the principal must be repaid in half the time.
15-Year Fixed rate difference
68 bps below 30-Year Fixed
Comparison principal
$300,000
Payment measure
Principal + interest only
| Market series | Observation | Rate | Term | Est. monthly P&I | Est. full-term interest |
|---|---|---|---|---|---|
| 15-Year Fixed | Oct 15, 2026 | 6.617% | 15 years | $2,633 | $173,878 |
| 30-Year Fixed | Oct 15, 2026 | 7.294% | 30 years | $2,055 | $439,976 |
Payments are principal and interest only. Taxes, insurance, mortgage insurance, points, fees, and prepayments are excluded.
The official form used to compare loan terms and costs.
A separate weekly view of 15- and 30-year conventional rates.
Market observations refresh automatically; the comparison is calculated from the labeled values above. Read the methodology.
The loan is generally repaid over 15 years while the interest rate stays fixed. Because principal is repaid faster, the monthly payment is usually higher than on a 30-year loan of the same size.
A shorter term reduces long-range interest-rate risk for the lender. The 15-year rate is therefore often below the 30-year rate, though the spread changes with the market.
The page reads Optimal Blue locked-loan data, usually published on the next business day, and always shows the observation date.
Clear limits on what this number can tell you.
Not necessarily. Repaying the same principal in half the time usually produces a higher monthly payment even when the interest rate is lower.
No. It is an average of locked transactions published as a market index.
This national average covers locked conforming 30-year fixed mortgages across the United States. An individual lender quote depends on the borrower and loan details.
This national average covers locked 30-year fixed jumbo mortgages across the United States. Jumbo generally means the loan amount exceeds the conforming limit that applies in that year and location.
This national average covers locked 30-year fixed FHA mortgages across the United States. Approved lenders originate FHA loans, while the Federal Housing Administration insures them.
This national average covers locked 30-year fixed VA mortgages across the United States. VA loans serve eligible service members, veterans, and certain qualifying family members.