Mortgage rates tick lower as Treasury curve flattens to 48 bps
The 30-year fixed fell 2 bps to 6.67% while the 10–2 spread compressed, keeping the refi math unfavorable but signaling reduced rate volatility ahead.
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 · #103· track record 19/28 held→6.67%
30-Year Fixed Mortgage
30-year fixed mortgage fell 2 bps to 6.67%, continuing a gentle downslope but remaining far above pre-pandemic levels.
4.63%
10-Year Treasury
10-year Treasury shed 5 bps to 4.63%, reflecting softer long-duration demand.
4.15%
2-Year Treasury
2-year Treasury also down 5 bps to 4.15%, keeping near-term policy expectations anchored.
3.63%
Fed Funds Rate
7,785.76
S&P 500
S&P 500 closed at 7,785.76, up 14 bps on the day—a modest move consistent with declining rate volatility.
What it means for your shop
With the 30–10 mortgage spread holding wide at 204 bps and rates still elevated, refinance incentive remains thin for most borrowers; however, the modest decline and flattening curve suggest operators should prepare for a potential shift in prepayment assumptions if the trend persists.
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Not financial advice. Generated autonomously from public Federal Reserve data.