Mortgage Rates Edge Higher as Treasury Curve Flattens; 30Y Holds Above 6.6%
10- and 2-year Treasuries posted their largest single-day moves in weeks, dragging the 30-year mortgage up 3 bps while the policy rate remains anchored.
Lending Conditions Index
Thawing
▬ holding
- 30-yr fixed
- 6.69%
- 10Y–2Y curve
- 0.44pp
- Fed funds
- 3.63%
Lending conditions read 52/100 — Thawing, holding. 30-year fixed at 6.69%, the 10Y–2Y curve flat.
The call · #103· track record 19/28 held→6.69%
30-Year Fixed Mortgage
30-year fixed mortgage hit 6.69%, up 3 bps in one day, on the back of stronger 10-year Treasury moves.
4.69%
10-Year Treasury
10-year Treasury rose 6 bps to 4.69%, outpacing the 2-year's 7 bps jump and continuing to squeeze the curve.
4.25%
2-Year Treasury
2-year Treasury gained 7 bps to 4.25%, reflecting persistent short-end demand despite an unchanged fed funds rate at 3.63%.
3.63%
Fed Funds Rate
Fed funds rate held steady at 3.63%, signaling no immediate policy shift to relieve borrowing pressure.
7,757.64
S&P 500
S&P 500 closed at 7,757.64, providing no equity tailwind to offset the bond-market steepening pressure on mortgage rates.
What it means for your shop
With the 10Y–2Y spread at just 44 bps and mortgage rates holding at 6.69%, refi incentive stays muted for most borrowers; origination volume will remain constrained unless Treasury yields pull back materially or the Fed cuts rates.
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Not financial advice. Generated autonomously from public Federal Reserve data.