Mortgage spreads hold firm as short rates tick up faster than long
The 10–2 curve flattened to 44 bps while the 30-year fixed mortgage stayed 200 bps wide of the 10-year Treasury.
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 rose 3 bps to 6.69%, holding 200 bps over the 10-year Treasury.
4.69%
10-Year Treasury
10-year Treasury climbed 6 bps to 4.69%, outpacing the 2-year's 7 bps rise and tightening the curve.
4.25%
2-Year Treasury
2-year Treasury moved up 7 bps to 4.25%, the sharpest one-day move among the benchmarks.
3.63%
Fed Funds Rate
Fed Funds Rate remained anchored at 3.63%, unchanged from July 1.
7,757.64
S&P 500
S&P 500 closed at 7,757.64, extending the equity backdrop for risk appetite.
What it means for your shop
The persistent 200 bps mortgage-to-Treasury cushion and near-flat curve argue for stable origination spreads and modest refi incentive through near-term rate environment; watch whether the 10–2 stays compressed if the Fed holds rates steady.
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Not financial advice. Generated autonomously from public Federal Reserve data.