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Mortgage Rates: July 28th, 2022

For the week ending 7.28.22 Mortgage rates decreased 24bp to 5.50%.

For a $100,000 loan the monthly payment decreased $15 to $583/mo or $0.50/day.


While mortgage rates decreased 24bp, 10 Year Treasury rates decreased 23bp causing a 1bp decrease in the spread to 282bp. With the historical spread being 168 there now exists a “safety cushion” of 114bp 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 114bp above the historical norm. Given how quickly rates have recently risen, pricing personnel are going to want to retain this “ 114bp 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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