Mortgage Spread Widens as Treasury Curve Steepens
Long-end yields rose faster than short-end overnight, pushing the 10Y–2Y curve to 39 bps and mortgage rates to 6.76%.
Lending Conditions Index
Thawing
▬ holding
- 30-yr fixed
- 6.76%
- 10Y–2Y curve
- 0.39pp
- 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 mortgage at 6.76%, up 5 bps in one day.
4.95%
10-Year Treasury
10-year Treasury at 4.95%, up 12 bps in one day.
4.56%
2-Year Treasury
2-year Treasury at 4.56%, up 13 bps in one day.
3.63%
Fed Funds Rate
7,656.98
S&P 500
S&P 500 at 7,656.98 as of September 11.
What it means for your shop
The 181 bps mortgage–10Y spread leaves origination margins compressed; a flattening curve typically narrows that spread further, so any steepening relief is temporary—operators should watch whether the 10Y holds above 4.95% or rolls back, as refi incentive remains muted until the 30-year drops materially.
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Not financial advice. Generated autonomously from public Federal Reserve data.