15Y Mortgage
Refi math lives here. Spread to 30Y tells you which loan is cheaper.
- source
- FRED
- frequency
- weekly · Thursdays
- units
- percent
- s.a.
- no
15Y mortgage reads 6.57%, up 107 basis points year-over-year and holding near the high end of the past two months' range. The refi math here is already underwater for most of the 2021-22 cohort, and a year-ago comparison of 5.5% shows the spread has widened enough that refinancing into a shorter loan is now a real cost. The spread to 30Y matters less than it did when rates were flatter — what matters is whether you're locking in a 15-year paydown at this level or waiting for relief that may not come. If you're sitting on a sub-4% 30Y from five years ago, the 15Y case is still a reach; if you're analyzing a new purchase and thinking about amortization speed, the 107bp year-ago gap says refinancing leverage is gone and rate assumptions need to reflect where we actually are, not where you hoped we'd go.
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15Y Mortgage — Refi math lives here. Spread to 30Y tells you which loan is cheaper.
Freq: weekly · Source: FRED
"""
from fredapi import Fred
fred = Fred(api_key="YOUR_FRED_API_KEY")
series = fred.get_series("MORTGAGE15US")
print(series.tail())You are analyzing FRED series MORTGAGE15US — 15-Year Fixed Rate Mortgage Average in the United States. Context: Refi math lives here. Spread to 30Y tells you which loan is cheaper. Attributes - Units: percent - Frequency: weekly - Source: FRED Latest observation: 6.57% as of 2026-11-05 Year-over-year change: +19.45% Analyze this metric for a tech-forward real estate investor with 1–3 properties. What is it signaling right now? What should I watch next?