Mortgage rates spike 19 bps as Treasury curve flattens
30-year fixed jumped to 6.95% while the 10–2 spread compressed to just 27 bps, squeezing origination economics.
Lending Conditions Index
Tight
▬ holding
- 30-yr fixed
- 6.95%
- 10Y–2Y curve
- 0.27pp
- Fed funds
- 3.63%
Lending conditions read 45/100 — Tight, holding. 30-year fixed at 6.95%, the 10Y–2Y curve flat.
The call · #103· track record 19/28 held→6.95%
30-Year Fixed Mortgage
30-year fixed mortgage rose 19 bps to 6.95%, outpacing the modest Treasury decline and pushing the refi hurdle higher.
4.94%
10-Year Treasury
10-year Treasury eased 7 bps to 4.94%, but the move was insufficient to offset mortgage rate pressure.
4.67%
2-Year Treasury
2-year Treasury fell 7 bps to 4.67%, tracking the 10-year lower but offering no relief to the flattening curve.
3.63%
Fed Funds Rate
7,637.76
S&P 500
What it means for your shop
The sharp mortgage move outpaced Treasury weakness, widening the mortgage–Treasury spread to 201 bps and signaling either elevated servicing demand or tightening lender capacity; origination volume faces headwinds from the higher cost of funds relative to borrower rates.
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Not financial advice. Generated autonomously from public Federal Reserve data.