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30-Year Mortgage vs 10-Year Treasury Spread 1.96 for 

30-Year Mortgage vs 10-Year Treasury Spread came in at 1.96 (Percent) for Wk of Aug 27 2026, down 0.51% from 1.97 the prior week and 14.78% below its level of 2.3 one year ago. The series has averaged 1.76 since 1971, reaching a record high of 5.35 in April 1980 and a record low of 0.04 in February 1980.

Source: Federal Reserve Economic Data (FRED), St. Louis Fed

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Cite this data: "30-Year Mortgage vs 10-Year Treasury Spread," MarketXLS. Data from Federal Reserve Economic Data (FRED), St. Louis Fed. marketxls.com/indicators/mortgage-treasury-spread

Historical Data

⋮
⋮
August 27, 20261.96
August 20, 20261.97
August 13, 20262.01
August 6, 20262.02
July 30, 20262
July 23, 20262.01
July 16, 20262.01
July 9, 20262.04
July 2, 20261.99
June 25, 20262.03
June 18, 20261.96
June 11, 20262.03
June 4, 20262.01
May 28, 20261.93
May 21, 20262.03
May 14, 20261.95
May 7, 20261.99
April 30, 20262
April 23, 20261.94
April 16, 20261.99
⋮
⋮
December 11, 19982.09
December 4, 19982.07
November 27, 19981.95
November 20, 19982.01
November 13, 19982.11
November 6, 19982.06
October 30, 19982.2
October 23, 19982.14
October 16, 19982.32
October 9, 19982.08
October 2, 19982.14
September 25, 19981.97
September 18, 19981.83
September 11, 19981.87
September 4, 19981.77
August 28, 19981.72
August 21, 19981.53
August 14, 19981.51
August 7, 19981.51
July 31, 19981.47

About 30-Year Mortgage vs 10-Year Treasury Spread

What it measures

The mortgage-Treasury spread is the gap between the 30-year fixed mortgage rate from the Freddie Mac survey and the 10-year Treasury yield. Since mortgages are priced off intermediate Treasuries through the mortgage-backed securities market, this derived series isolates the premium borrowers pay above the risk-free curve, combining MBS spreads, servicing costs, and lender margins.

Why it matters

The spread reveals how efficiently capital markets are passing risk-free rates through to homebuyers. It widens when interest rate volatility rises, when the Fed steps back from MBS purchases, or when lender capacity tightens, so it functions as a stress gauge for housing finance. A wide spread means housing bears extra tightening beyond what Treasury yields alone imply.

How to read it

The spread has historically centered near 1.5 to 2 percentage points, compressing when volatility is low and MBS demand is strong, and blowing out toward or beyond 3 points in episodes such as 2008 and the 2022-2023 tightening cycle. A wide spread that later normalizes can lower mortgage rates even without any Treasury rally, a distinct source of housing relief.

Frequently Asked Questions

What is the current 30-Year Mortgage vs 10-Year Treasury Spread?

30-Year Mortgage vs 10-Year Treasury Spread is 1.96 (Percent) as of August 2026.

What is the all-time high and low of 30-Year Mortgage vs 10-Year Treasury Spread?

The highest value on record is 5.35 (April 1980) and the lowest is 0.04 (February 1980).

How often is 30-Year Mortgage vs 10-Year Treasury Spread updated?

30-Year Mortgage vs 10-Year Treasury Spread is published on a weekly basis, sourced from Federal Reserve Economic Data (FRED).

Basic info
Calculated as the average 30-year fixed mortgage rate (MORTGAGE30US) minus the 10-year Treasury yield. The spread reflects what lenders charge over the risk-free benchmark; a wide spread signals tight mortgage credit.
RegionUnited States
FrequencyWeekly
Last updatedAugust 27, 2026
Seasonal adjustmentNot Seasonally Adjusted
UnitPercent

Stats
Last Value1.96
Latest PeriodWk of Aug 27 2026
Last UpdatedAugust 27 2026, 11:02
Value Previous Week1.97
Change From Previous Week-0.51%
Value 1 Year Ago2.3
Change From Year Ago-14.78%
Average Growth Rate0.17%/yr
Record High (Apr 1980)5.35
Record Low (Feb 1980)0.04
Long-Term Average1.76
FrequencyWeekly
AdjustmentNot Seasonally Adjusted
UnitPercent

Annual Averages
20261.98
20252.29
20242.53
20232.85
20222.43
20211.52
20202.19
20191.77
20181.64
20171.66
20161.82
20151.71

Related Indicators
30 Year Mortgage Rate
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M1 Money Supply
M2 Money Supply
S&P 500 Index
Dow Jones Industrial Average
Wilshire 5000 Total Market Index
CBOE Volatility Index: VIX
St. Louis Fed Financial Stress Index
AA US Corporate Bond Index (Total Return)
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