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Mortgage Rates: July 21st, 2022

For the week ending 7.21.22 Mortgage rates increased 3bp to 5.74%.

For a $100,000 loan the monthly payment increased $2 to $583/mo or $0.06/day.


While mortgage rates increased 3bp, 10 Year Treasury rates decreased 5bp. Caused an 8bp increase in the spread to 283bp. With the historical spread being 168 there now exists a “safety cushion” of 115bp 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 115bp above the historical norm. Given how quickly rates have recently risen, pricing personnel are going to want to retain this “ 115bp cushion” to be a safeguard against unexpected rate increases given both the recent robust New Jobs report and CPI increasing to 9.1.


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