No it’s the same rate at least in New England. They both like 2%. And even if it isn’t. Are you still paying so much more almost double at the 15 year rate. Take out the 30 year mortgage and turn it into 17 years. You’ll pay so much less a month on top of it. Banks don’t tell you this . You’ll take 13 years off your mortgage. The interest rate is insignificant
I suggest you talk to a financial expert. All things being the same (same bank, same credit rating, etc), 30 year interest rates will always be higher than a 15 year interest rate. One reason is the bank is at risk for default for a longer period of time.
People don't take out 15 year mortgages because they don't qualify for them. But what you are saying is a good way to attack a 30 year mortgage. Bottom line, it is all about the amount of interest you are paying. That is the whole reason for turning a 30 year mortgage into a 17 year mortgage as you suggest. BTW, a 15 year mortgage monthly payment is not twice as much as a 30 year monthly mortgage payment if that is what you were suggesting.