A real-time, dual-sensitive shearography system using a single-wavelength laser was developed for simultaneous and dynamic in-plane and out-of-plane strain measurements. The shearography system is capable of measuring crack-tip deformation fields quantitatively. A spatial multiplexing technique based on Fourier transform is employed for simultaneous and dynamic multi-component phase retrieval. Two slit spatial filters and a common-path shearing interferometer are used to obtain an improved phase quality for crack-tip deformation measurements. Mode-I fracture experiments under three-point bending were conducted to validate the feasibility and the capability of this method.