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Mortgage Rates: As of November 3rd, 2022

For the week ending 11.3.22 Mortgage rates DECREASED 13bp to 7.15%.

For a $100,000 loan, the monthly payment DECREASED $9 to $675/mo or $0.29/day.


While mortgage rates DECREASED 13bp, 10 Year Treasury rates INCREASED 18bp. The net difference is a 31bp decrease in a spread of 301bp. With the historical spread being 168 there now exists a “safety cushion” of 164bp above this historical spread.


The historic spread between the 10 Year Treasury and mortgage rates is 168pb (see the green line, right axis) and currently, there is a 164bp above the historical norm. For this spread to return to the historical norm, either mortgage rates will decrease or 10 Year Treasury rates will increase.


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