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Mortgage Rates: July 24th, 2022

For the week ending 7.14.22 Mortgage rates increased 21bp to 5.71%.

For a $100,000 loan the monthly payment increased $13 to $568/mo or $0.44/day.


While mortgage rates increased 21bp, 10 Year Treasury rates decreased 5bp. A 26bp increase in the spread.


The historic spread (aka difference) between the 10 Year Treasury and mortgage rates is 168pb (see green line) and currently, there is a 107bp above the historical norm. Given how quickly rates have recently risen, pricing personnel are going to want to retain this “ 107bp cushion” to be safe against unexpected rate increases given both the robust New Jobs report and CPI increasing to 9.1.

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