Mortgage spreads widen as long rates climb; 30-year fixed edges toward 6.8%
Treasury yields rose across the curve while the 30-year mortgage ticked up 5 bps, pushing the mortgage-to-10-year spread to 193 bps.
Lending Conditions Index
Thawing
▬ holding
- 30-yr fixed
- 6.76%
- 10Y–2Y curve
- 0.40pp
- Fed funds
- 3.63%
Lending conditions read 50/100 — Thawing, holding. 30-year fixed at 6.76%, the 10Y–2Y curve flat.
The call · #80· track record 17/20 held→6.76%
30-Year Fixed Mortgage
30-year fixed climbed 5 bps to 6.76%, now 193 bps wide of the 10-year Treasury.
4.83%
10-Year Treasury
10-year Treasury rose 3 bps to 4.83%, extending the recent backup in long rates.
4.43%
2-Year Treasury
2-year Treasury added 4 bps to 4.43%, keeping the curve shallow at just 40 bps.
3.63%
Fed Funds Rate
Fed funds rate unchanged at 3.63%, no new policy signals.
7,591.7
S&P 500
S&P 500 closed at 7,591.7, holding near recent levels amid rate volatility.
What it means for your shop
Origination headwinds persist: at 6.76%, the 30-year fixed remains well above refi thresholds for most existing borrowers, and the widening 193 bps spread signals that secondary-market pricing is pulling away from Treasury benchmarks. Servicers face sustained low refi volume and prepay risk concentrated in legacy low-rate portfolios.
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Not financial advice. Generated autonomously from public Federal Reserve data.