15-Year Mortgage Rates Today (March 2026): Current Rates & Comparison
By Wealthvieu
·
Updated
Track current 15-year fixed mortgage rates and see how they compare to 30-year options.
Current 15-Year Mortgage Rates
Rates as of March 2026. Updated daily.
| Loan Type |
Rate |
APR |
Points |
| 15-Year Fixed |
6.125% |
6.20% |
0.4 |
| 15-Year Fixed (Conforming) |
6.00% |
6.08% |
0.3 |
| 15-Year Fixed (Jumbo) |
6.375% |
6.42% |
0.4 |
| 15-Year Fixed (FHA) |
5.75% |
6.35%* |
0.0 |
| 15-Year Fixed (VA) |
5.625% |
5.82% |
0.0 |
*FHA APR includes mortgage insurance premium
15-Year vs 30-Year Rate Comparison
| Metric |
15-Year |
30-Year |
Difference |
| Current Rate |
6.125% |
6.875% |
-0.75% |
| Typical Rate Gap |
— |
— |
0.5-0.75% higher |
Payment Comparison ($400K home, 20% down)
| Feature |
15-Year @ 6.125% |
30-Year @ 6.875% |
| Loan Amount |
$320,000 |
$320,000 |
| Monthly Payment |
$2,724 |
$2,101 |
| Total Payments |
$490,320 |
$756,360 |
| Total Interest |
$170,320 |
$436,360 |
| Interest Savings |
$266,040 |
— |
15-Year Rates by Credit Score
| Credit Score |
Rate Range |
Monthly Payment ($320K loan)* |
| 760+ (Excellent) |
5.75-6.00% |
$2,645-$2,700 |
| 700-759 (Good) |
6.00-6.25% |
$2,700-$2,755 |
| 680-699 (Fair) |
6.25-6.50% |
$2,755-$2,810 |
| 660-679 |
6.50-6.75% |
$2,810-$2,866 |
| 620-659 |
6.75-7.25% |
$2,866-$2,979 |
*Principal and interest only
Savings Calculator: 15-Year vs 30-Year
| Home Price |
15-Year Total Interest |
30-Year Total Interest |
Savings |
| $300,000 |
$127,740 |
$327,270 |
$199,530 |
| $400,000 |
$170,320 |
$436,360 |
$266,040 |
| $500,000 |
$212,900 |
$545,450 |
$332,550 |
| $600,000 |
$255,480 |
$654,540 |
$399,060 |
| $750,000 |
$319,350 |
$818,175 |
$498,825 |
Assumes 20% down, 6.125% (15-yr) and 6.875% (30-yr)
Can You Afford a 15-Year Mortgage?
Income Needed by Home Price
Assumes 28% DTI for housing, no other debt:
| Home Price |
15-Year Payment |
Income Needed |
30-Year Payment |
Income Needed |
| $300,000 |
$2,543* |
$109,000 |
$1,951* |
$84,000 |
| $400,000 |
$3,324* |
$142,000 |
$2,551* |
$109,000 |
| $500,000 |
$4,105* |
$176,000 |
$3,151* |
$135,000 |
| $600,000 |
$4,886* |
$210,000 |
$3,751* |
$161,000 |
Includes taxes, insurance, and PMI estimates
When to Choose 15-Year
Best Candidates:
| Situation |
Why 15-Year Works |
| High income, stable job |
Can handle higher payments |
| 10-15 years from retirement |
Be mortgage-free in retirement |
| Refinancing with equity |
Lower balance = manageable payments |
| Aggressive wealth builders |
Forced savings discipline |
| Already maxing retirement accounts |
Good use of extra cash |
When to Choose 30-Year Instead:
| Situation |
Why 30-Year Works |
| Tight budget |
Lower required payment |
| Unstable income |
Flexibility if income drops |
| Young buyer |
Invest the difference |
| High-cost area |
Make payments affordable |
| Other high-interest debt |
Pay that first |
The Math: Invest the Difference?
If you take a 30-year and invest the payment difference:
| Scenario |
Monthly |
After 15 Years |
After 30 Years |
| 15-Year mortgage |
$2,724 |
Paid off, own home |
Own home |
| 30-Year mortgage |
$2,101 |
Owe $198K still |
Paid off |
| Invest difference |
$623/month |
$181,000* |
$633,000* |
*Assumes 7% average return
Result: Investing the difference may come out ahead, but it requires discipline and assumes consistent returns.
15-Year Rate History
| Period |
Average 15-Year Rate |
| March 2026 |
6.125% |
| 2025 Average |
6.22% |
| 2024 Average |
6.08% |
| 2023 Average |
6.03% |
| 2022 Average |
4.45% |
| 2021 Average |
2.27% |
| 10-Year Average |
3.91% |
| All-Time Low |
2.10% (Jan 2021) |
Payment Examples by Home Price
15-Year, 6.125% Rate, 20% Down
| Home Price |
Down Payment |
Loan |
Monthly P&I |
Total Interest |
| $250,000 |
$50,000 |
$200,000 |
$1,703 |
$106,450 |
| $300,000 |
$60,000 |
$240,000 |
$2,043 |
$127,740 |
| $350,000 |
$70,000 |
$280,000 |
$2,384 |
$149,030 |
| $400,000 |
$80,000 |
$320,000 |
$2,724 |
$170,320 |
| $500,000 |
$100,000 |
$400,000 |
$3,405 |
$212,900 |
Refinancing to 15-Year
If you have an existing 30-year mortgage, refinancing to 15-year can save substantial interest:
Example: $300K original loan, 5 years in
| Current Situation |
Value |
| Original loan |
$300,000 |
| Current balance |
$275,000 |
| Current rate |
7.00% |
| Current payment |
$1,996 |
| Years remaining |
25 |
| Remaining interest |
$313,800 |
After 15-Year Refi at 6.125%
| New Situation |
Value |
| New loan |
$275,000 |
| New payment |
$2,341 |
| Total interest |
$146,380 |
| Interest savings |
$167,420 |
| Payment increase |
+$345/month |
How to Get the Best 15-Year Rate
| Strategy |
Impact |
| Credit score 760+ |
Save 0.25-0.50% |
| 20%+ down payment |
Best rates, no PMI |
| Shop 3-5 lenders |
Find lowest offer |
| Compare on same day |
Rates change daily |
| Consider credit unions |
Often lower rates |
| Negotiate fees |
Saves $1,000+ |
Related: 30-Year Mortgage Rates | 15-Year vs 30-Year Mortgage | Mortgage Calculator