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Mortgage Rates: August 4th, 2022

For the week ending 8.4.22 Mortgage rates decreased 31bp to 5.19%.

For a $100,000 loan the monthly payment decreased $19 to $548/mo or $0.64/day.


While mortgage rates decreased 31bp, 10 Year Treasury rates did not change. The 31bp decrease resulted in a spread of 251bp. With the historical spread being 168 there now exists a “safety cushion” of 83bp 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 an 83bp above the historical norm. A 31bp decrease in mortgage rates without an off-setting decrease in Treasury rates is somewhat surprising.


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