Why the mortgage rate ‘spread’ is suddenly so steep
Mortgage rates have shot up this year, but inflation isn’t the only driver.
3 min read
May 26, 2023
Jeff Ostrowski
Writer and Housing Market Analyst
EXPERTISE
- Mortgages
- Mortgage refinancing
- Mortgage rate trends
- Housing market
- Real estate
EDUCATION
- Bachelor of Science, University of Illinois at Urbana-Champaign
- Master of Arts, University of Illinois at Springfield
- Continuing coursework, including NMLS Mortgage Loan Originator education and MLO SAFE Test
About the author
Jeff Ostrowski has closely covered two nationwide housing booms and one devastating bust. Before joining Bankrate in 2020, he spent more than 20 years writing about real estate, business, the economy and politics. He previously worked as a reporter at the Palm Beach Post and the South Florida Business Journal.
Since 2019, Jeff has served on the board of the nonprofit National Association of Real Estate Editors. He twice has won gold awards in the group’s journalism contest. His Bankrate coverage of housing affordability was also honored with a Best in Business award from the Society for Advancing Business Editing and Writing.
When he’s not working, Jeff enjoys surfing, biking and traveling, usually with a surfboard or bike.
Jeff is the author of How to Buy a Home in a Miserable Market, available in paperback and e-book on Amazon.
Jeff beyond Bankrate
Jeff wants you to know
When you’re applying for a mortgage, shop around and do your homework — informed borrowers can save thousands of dollars over the life of their loan. Don’t fixate on finding the absolute perfect option, though, or timing your loan to a low point for mortgage rates. If you’re borrowing now, mortgage rates could go down in the future. Avoid worrying about all those things that are both out of your control and impossible to predict.
Jeff's latest articles
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Leading lenders roll out 1% down payment mortgages
The nation’s two largest mortgage lenders have rolled out 1% down payment loans. Is there a catch?
4 min read May 25, 2023 -
Housing market heat shifts to Southeast
Metro areas in Georgia, Tennessee, Florida and North Carolina top the Housing Heat Index.
8 min read May 22, 2023 -
High insurance rates push homeownership further out of reach
Rising insurance rates put homeownership even further out of reach for many.
5 min read May 05, 2023 -
New mortgage fee rules: Will higher credit score buyers really pay more?
The reward for stellar credit has narrowed for some borrowers — but are they really paying more?
3 min read Apr 28, 2023 -
Find mortgage rates by state or loan type
Mortgage rates can vary significantly from one loan type to another and by state. Select the mortgage loan type that you are interested in from the list below to start comparing personalized rates from [...]
1 min read Apr 12, 2023 -
Mortgage rates fall after banks fail
Rates have taken a tumble this week. But the big question is: Will they bounce back?
3 min read Mar 14, 2023 -
You better shop around: Comparing mortgage offers nets better deals, Freddie Mac finds
As interest rates rise, so does the disparity in lenders’ quotes.
2 min read Feb 28, 2023
