July interest rate update

July Interest Rate Update

July 28, 2022

In an effort to stem inflation, the Fed announced on Wednesday that it is raising the Federal Funds rate by .75%. The benchmark short-term rate is at its highest level since 2018. While these intentional rate increases have dramatically pushed up short-term interest rates, the 10-year Treasury (the benchmark for long-term fixed rates) has moderated over the past month. Since climbing to a peak of 3.48% on June 13th, the 10-year treasury closed at 2.675% today. It is interesting to put rates in perspective by looking at the charts below.

The current market for fixed-rate loans looks like the following:

  • 3-year fixed from 4.00-5.00%
  • 5-year fixed from 4.00-5.00%
  • 10-year fixed from 4.25-5.25%
  • 15-year fixed from 4.25-5.25%
  • 20-year fixed from 4.50-5.50%

July interest rate update

July interest rate update


June Interest Rate Update

May Interest Rate Update

April Interest Rate Update