Mortgage-Treasury Spread Holds Above 200bp as Curve Flattens
30-year mortgages at 6.67% sit 199bp wide of 10-year Treasuries; the 10–2 curve remains inverted at 48bp.
Lending Conditions Index
Thawing
▬ holding
- 30-yr fixed
- 6.67%
- 10Y–2Y curve
- 0.48pp
- Fed funds
- 3.63%
Lending conditions read 53/100 — Thawing, holding. 30-year fixed at 6.67%, the 10Y–2Y curve flat.
The call · #58· track record 13/15 held→6.67%
30-Year Fixed Mortgage
30-year fixed mortgages at 6.67%, down 2bp on the day—still pricing a wide 199bp cushion over the 10-year.
4.68%
10-Year Treasury
10-year Treasury yield at 4.68%, unchanged from yesterday, holding just above the 2-year as the long end resists further compression.
4.2%
2-Year Treasury
2-year yield at 4.2%, holding steady despite a flat curve; the 48bp inversion to the 10-year persists.
3.63%
Fed Funds Rate
Fed funds target at 3.63%, unchanged at its July 1 level; no move in the policy rate since then.
7,748.5
S&P 500
S&P 500 at 7,748.5, off 0.02bp; equities steady, risk-off sentiment muted.
What it means for your shop
With mortgage-to-Treasury spreads holding near session wides and the curve staying flat, secondary market hedging costs remain elevated; refinance incentive stays muted, favoring refi-averse MSR risk profiles but pressuring origination volume in a 6.67% rate environment.
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Not financial advice. Generated autonomously from public Federal Reserve data.