LenderCity research · methodology
What is the wholesale–retail mortgage spread?
It is the difference, in basis points, between comparable retail and wholesale mortgage rates after controlling for loan details and pricing terms.
No qualified live wholesale and retail samples are connected. No current value or update timestamp is available.
How is the spread calculated?
A basis point is one hundredth of one percentage point. For a matched group, the spread is the mean retail rate minus the mean wholesale rate, expressed in basis points. A positive value means the retail rate is higher within that matched group; it does not establish which offer costs less overall.
| Measurement | Current value | Requirement |
|---|---|---|
| Retail minus wholesale rate | Unavailable | At least three fresh observations in each channel for a matched group |
| Observation timestamp | Unavailable | No observation more than 48 hours old or dated in the future |
| Chart-ready series | No observations | Rate, price, lender credits and borrower-paid charges preserved for each matched observation |
What must be comparable?
Observations must match program, term, lock, occupancy, purpose, LTV and CLTV bands, credit band, property type, pricing treatment, price, lender credits and borrower-paid charges. Each observation requires a source and timestamp. Rates alone are not a complete measure of a mortgage offer.
How should a borrower use it?
Use the spread as market context only when a qualified index is available. Compare your own loan estimates for rate, monthly payment, points, fees, lender credits and lock timeline. A lower headline rate may cost more upfront.
Sources and limitations
Prospective sources must be attributable, permitted for use, and meet the matching rules above. No live quote source is represented on this page yet. The existing 2025 Missouri HMDA channel study is historical and measures a different population; it is not a live spread. See the research methodology and the FFIEC HMDA data browser.
Samples may not represent all lenders, states or borrowers. Results are descriptive and cannot establish causation, eligibility or savings. LenderCity, Inc. · Company NMLS 193390.
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