Updated May 2026 · Freddie Mac
What Is 15-Year Fixed Mortgage Rate?
15-Year Fixed Mortgage Rate is currently at 5.9%, up +0.0% from the previous reading of 5.8%. The series is published by Freddie Mac on a weekly schedule, last updated 2026-05-28.
Current Reading
How to Read This Reading
5.9% sits in the upper portion of the recent historical range for 15-Yr Mortgage. Treat the reading as elevated rather than typical — sustained levels at this height usually have meaningful policy or business-cycle implications.
15-Yr Mortgage has moved higher from 5.8% to 5.9% since the prior weekly release — a modest move of +0.0%. Pair this with the related indicators below before drawing strong conclusions; isolated moves on a single release often look larger than they really are.
Interest-rate and yield indicators describe the cost of borrowing across the economy. The federal funds rate is set directly by the Federal Reserve; longer-term Treasury yields are set by the bond market and reflect investor expectations about future growth and inflation. See the FOMC for the current policy stance.
What 15-Yr Mortgage Measures
The 15-year fixed mortgage rate is the average interest rate on a conventional 15-year home loan. It offers a lower rate than the 30-year fixed but with higher monthly payments due to the shorter repayment term. Sourced from Freddie Mac's weekly Primary Mortgage Market Survey.
At 5.89%, the 15-year fixed rate carries a roughly 0.75 percentage point discount to the 30-year rate. Borrowers choosing the 15-year term pay significantly less in total interest over the life of the loan — typically saving over $100,000 on a $400,000 mortgage. For financial advisors and wealth managers, the spread between 15-year and 30-year rates signals how the market prices term risk. A narrowing spread suggests lenders expect rates to decline.
Methodology
Freddie Mac surveys lenders weekly to compile the Primary Mortgage Market Survey. The 15-year rate reflects the average offered rate for a conforming 15-year fixed loan with 20% down payment to a borrower with strong credit. Actual rates vary based on creditworthiness, down payment, and loan size.
ExecBolt does not estimate, model, or interpolate this value — every reading on this page is pulled directly from Freddie Mac (series MORTGAGE15US). For full sourcing standards and citation guidance, see the methodology page; for plain-language background on the underlying concept, see the learn library; for live cross-checks against related series, see the indicators dashboard.
| Detail | Value |
|---|---|
| Full name | 15-Year Fixed Mortgage Rate |
| Source | Freddie Mac |
| Series ID | MORTGAGE15US |
| Frequency | Weekly |
| Category | rates |
| Last updated | 2026-05-28 |
| Next release | 2026-04-10 |
Related Indicators
Frequently Asked Questions
What is 15-Year Fixed Mortgage Rate right now?
15-Year Fixed Mortgage Rate is currently at 5.9%, up +0.0% from the previous reading of 5.8%. The series is published by Freddie Mac on a weekly schedule, last updated 2026-05-28.
How is 15-Yr Mortgage calculated?
Freddie Mac surveys lenders weekly to compile the Primary Mortgage Market Survey. The 15-year rate reflects the average offered rate for a conforming 15-year fixed loan with 20% down payment to a borrower with strong credit. Actual rates vary based on creditworthiness, down payment, and loan size.
What does 15-Yr Mortgage mean for business?
At 5.89%, the 15-year fixed rate carries a roughly 0.75 percentage point discount to the 30-year rate. Borrowers choosing the 15-year term pay significantly less in total interest over the life of the loan — typically saving over $100,000 on a $400,000 mortgage. For financial advisors and wealth managers, the spread between 15-year and 30-year rates signals how the market prices term risk. A narrowing spread suggests lenders expect rates to decline.
How often is 15-Yr Mortgage updated?
15-Yr Mortgage is published on a weekly schedule by Freddie Mac. The most recent reading is dated 2026-05-28; the next scheduled release is 2026-04-10.
Where can I verify this number?
The primary source for 15-Year Fixed Mortgage Rate is Freddie Mac at https://www.freddiemac.com/pmms (series MORTGAGE15US). The historical series is also archived at FRED at the St. Louis Fed and available via API for programmatic verification.