Mortgage-to-Treasury Spread Holds Near 200 bps as Curve Flattens
The 30-year fixed rate climbed 1 bp to 6.66%, tracking a parallel 1 bp rise in the 10-year Treasury, while the yield curve compressed to 47 bps.
Lending Conditions Index
Thawing
▬ holding
- 30-yr fixed
- 6.66%
- 10Y–2Y curve
- 0.47pp
- Fed funds
- 3.63%
Lending conditions read 53/100 — Thawing, holding. 30-year fixed at 6.66%, the 10Y–2Y curve flat.
The call · #120· track record 20/32 held→6.66%
30-Year Fixed Mortgage
30-year fixed mortgage rose 1 bp to 6.66%, mirroring Treasury movement without spread widening.
4.67%
10-Year Treasury
10-year Treasury climbed 1 bp to 4.67%, setting the core anchor for mortgage pricing.
4.2%
2-Year Treasury
2-year Treasury moved 1 bp higher to 4.2%, steepening the curve only to 47 bps as medium-term yields accelerated with long rates.
3.63%
Fed Funds Rate
Fed funds rate held steady at 3.63%, leaving policy unchanged and no fresh hawkish signal.
7,711.76
S&P 500
S&P 500 closed at 7,711.76, extending the equity backdrop against which duration and credit risk are priced.
What it means for your shop
The mortgage-to-10-year spread remains anchored at 199 bps, signaling stable pricing architecture despite a flatter curve; origination flow and MSR duration risk are locked in near current levels, but narrowing term premium (10Y–2Y compressed to 47 bps) hints at refinance incentive staying weak if rates stabilize here.
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Not financial advice. Generated autonomously from public Federal Reserve data.