Mortgage Spread Widens as 10Y Yields Climb; Curve Flattens to 41 bps
Treasury yields rose modestly overnight while the Fed Funds Rate held steady, pushing the 30–10 spread to 191 bps and leaving the 10–2 curve at its flattest mark in recent days.
Lending Conditions Index
Thawing
▬ holding
- 30-yr fixed
- 6.66%
- 10Y–2Y curve
- 0.41pp
- Fed funds
- 3.63%
Lending conditions read 52/100 — Thawing, holding. 30-year fixed at 6.66%, the 10Y–2Y curve flat.
The call · #68· track record 16/18 held→6.66%
30-Year Fixed Mortgage
30-year fixed mortgage at 6.66%, up 1 bp overnight—holding near recent resistance.
4.75%
10-Year Treasury
10-year Treasury at 4.75%, up 2 bps—the primary driver of today's mortgage repricing.
4.34%
2-Year Treasury
2-year Treasury unchanged at 4.34%—a sign of sideways near-term rate expectations.
3.63%
Fed Funds Rate
Fed Funds Rate flat at 3.63%, reflecting no change in policy bias overnight.
7,686.14
S&P 500
S&P 500 at 7,686.14 as of month-end—equities stable amid steady rate backdrop.
What it means for your shop
Lenders face a pinch: the 30-year mortgage at 6.66% is now 191 bps wide to the 10-year, compressing origination margins while the flat curve (41 bps) signals continued uncertainty around medium-term rate expectations and refinance incentives remain muted at current levels.
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Not financial advice. Generated autonomously from public Federal Reserve data.