FRED · Freddie Mac PMMS + 10-Year Treasury · Updated weekly
Mortgage Spread Index
The 30-year fixed rate doesn't just track the 10-year Treasury — it runs on top of it. When that gap widens past its historical norm, it adds real monthly payment cost independent of where the Fed or the 10-year yield sit.
What the spread costs on a $350,000 mortgage
Holding the loan amount fixed, comparing today's actual 30-year rate against what the rate would be if the spread sat at its ~175 bps historical norm instead.
Principal and interest only, on an 80% LTV $350,000 loan amount. Does not include taxes, insurance, or PMI. Compare lenders at today's mortgage rates.
Observed lender quote panel
How far apart are lender APRs?
Across 164 fresh 30-year fixed observations at the recorded 780 FICO assumption, the median APR is 7.395%. The observed range is 6.522% to 8.140%—a 162-basis-point gap.
| Lender | APR | Vs panel median | Markets observed |
|---|---|---|---|
| Lindell Bank & Trust Company | 6.522% | -87 bps | 1 |
| Magyar Bank | 6.627% | -77 bps | 1 |
| Ives Bank | 6.635% | -76 bps | 1 |
| Commercial Bank | 6.639% | -76 bps | 1 |
| Suncoast Credit Union | 6.761% | -63 bps | 1 |
| GSL Savings Bank | 6.815% | -58 bps | 1 |
| Tomo | 6.876% | -52 bps | 37 |
| Haven Savings Bank | 6.882% | -51 bps | 1 |
| American Airlines Federal Credit Union | 6.887% | -51 bps | 1 |
| Somerset Savings Bank, SLA | 6.889% | -51 bps | 1 |
| Space Coast Credit Union | 6.890% | -50 bps | 1 |
| SunnyHill Financial, Inc. | 6.936% | -46 bps | 3 |
Descriptive quote panel, not a universal lender score or a personalized offer. The scraper requests a $940,000 property and $752,000 loan across 49 geographic markets, then retains the best observed APR per lender, product, and FICO tier. Availability, points, fees, property, occupancy, ZIP code, and borrower details can change a real quote. “Markets observed” counts returned state markets; it is not a licensing claim. Data: download JSON.
Methodology
- 30-year fixed rate: Freddie Mac Primary Mortgage Market Survey (PMMS) via FRED, series MORTGAGE30US, weekly.
- 10-year Treasury yield: FRED series DGS10, daily.
- The ~175 bps historical norm is a commonly cited long-run reference point for the pre-pandemic (roughly 1990–2019) average primary-secondary spread — an approximation, not a precise SwitchWize-verified figure.
- Both series are national averages. Individual quoted rates vary by credit score, LTV, and lender.
Full ranking and lender-coverage methodology at /methodology.