Mortgage rates against the 10-year Treasury
The 30-year mortgage rate is 2.26 percentage points above the 10-year Treasury yield for the week of October 29, 2026. Over the past two years the gap has averaged 2.18.
- Mortgage rate
- 7.24%
- 10-year Treasury
- 4.98%
- Spread now
- 2.26
- Two-year range
- 1.81 to 2.58
Why the gap matters
Mortgage rates tend to move with the 10-year Treasury yield, because investors who buy mortgage-backed securities compare them with Treasuries. The spread is the extra yield they demand for prepayment risk and credit risk. When the spread is wide, mortgage rates stay high even if Treasury yields fall. When it narrows, mortgage rates can fall faster than Treasuries.
Mortgage figures are weekly Thursday averages. Each is compared with the most recent daily Treasury yield on or before that date.