Been looking back at mortgage rate movements from October 2022 and it's wild how much things shifted. Back then, the average 30-year fixed was sitting at 7.20%, which seemed pretty high at the time compared to where rates had been earlier that year. The 15-year option was around 6.40% if you wanted to pay things off faster.

What caught my attention was the 52-week range - the 30-year had hit a low of 5.43% but climbed to 7.24% at its peak. That's a pretty significant swing. If you locked in at 7.20% on a standard $100k mortgage, you'd be looking at roughly $679 monthly for principal and interest alone, which adds up to about $144k in total interest over the life of the loan.

For anyone considering a 15-year mortgage back in October 2022, the 6.40% rate meant around $866 monthly per $100k borrowed. Jumbo mortgages were slightly higher at 7.21%, and if you were into adjustable rates, the 5/1 ARM was hovering at 5.45%.

The APR numbers told the fuller story though - that 7.21% APR on 30-year mortgages included all the lender fees on top of the base rate. That's why comparing APR across lenders matters more than just looking at the advertised rate. Anyway, those October 2022 mortgage rates definitely showed how much pressure was building in the housing market back then.