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Mortgage Rates Update: December 21st, 2022

For the week ending 12.21.22 Mortgage rates DECREASED 4bp to 6.50%.

For a $100,000 loan, the monthly payment DECREASED by $3 to $632/mo or $.09/day.


While mortgage rates DECREASED by 4bp, 10 Year Treasury rates INCREASED by 24bp. The net difference is a 28bp decrease in a spread of 310bp. With the historical spread being 168 there now exists a “safety cushion” of 114bp above the 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 114bp above the historical norm. For this spread to return to the historical norm, either mortgage rates will decrease further or 10 Year Treasury rates will increase.


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