The three rates that price almost every real estate deal in America, pulled directly from Federal Reserve Economic Data and refreshed daily — with the one number FRED does not publish: the spread between them.
Latest observation:
As of · Updated weekly · FRED series MORTGAGE30US
The benchmark rate for conventional owner-occupied and many single-family rental purchases. This is the number that sets your baseline cost of capital on a standard financed acquisition, and the one most sellers are anchored to when they talk about "what rates are doing."
Source: Freddie Mac Primary Mortgage Market Survey, retrieved from FRED, Federal Reserve Bank of St. Louis.
As of · Updated daily · FRED series DGS10
The risk-free benchmark most commercial and DSCR lenders price against. Commercial quotes are typically expressed as a spread over this rate, so it moves before your loan quote does. Watching it tells you where financing costs are heading, not just where they have been.
Source: Board of Governors of the Federal Reserve System, retrieved from FRED, Federal Reserve Bank of St. Louis.
As of · Updated monthly · FRED series FEDFUNDS
The Federal Reserve’s policy rate. It drives short-term borrowing costs directly — bridge debt, lines of credit, hard money, and the floating-rate paper behind most short-hold strategies.
Source: Board of Governors of the Federal Reserve System, retrieved from FRED, Federal Reserve Bank of St. Louis.
1.76 percentage points
The gap between the 30-year fixed mortgage rate and the 10-year Treasury. Historically this spread runs roughly 1.7 to 2.0 points. A wider spread means lenders are pricing in more risk or absorbing more volatility — and it means mortgage rates have room to fall even if Treasuries hold flat. A narrow spread means the opposite: mortgage rates are already priced tight to the benchmark, so relief has to come from the Treasury side.
Calculated by Virtù from the two FRED series above.
The 30-year fixed rate sets your baseline debt service on a conventional financed purchase. It is a national average of survey responses, not a quote — your actual rate moves with credit, occupancy, property type, and points. Treat it as the anchor, not the answer.
Commercial and DSCR lenders price as a spread over the 10-year Treasury, which trades continuously while mortgage rates reset weekly. When the 10-year moves sharply, mortgage quotes follow within days. If you are deciding whether to lock, the Treasury is the leading indicator.
Bridge loans, lines of credit, hard money, and floating-rate paper all key off short-term rates. If your strategy involves holding for months rather than decades — a flip, a BRRRR before refinance, a value-add repositioning — this is the rate that governs your carry.
A borrower fixated on the mortgage rate alone cannot tell the difference between rates that are high because the economy is hot and rates that are high because lenders are nervous. The spread separates those two stories, and only one of them tends to resolve quickly.
Virtù reasons through acquisitions, seller-financed structures, BRRRR sequencing, and break-even models using current rate data — and remembers the specifics of your deal across the whole conversation.
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