Mortgage rates jump 19 bps as Treasury curve steepens; 30-year now 6.95%
A sharp one-day move in long-dated yields pushed 30-year mortgages higher while the 10y–2y spread widened, signaling fresh pressure on origination incentives.
Lending Conditions Index
Tight
▬ holding
- 30-yr fixed
- 6.95%
- 10Y–2Y curve
- 0.25pp
- 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 jumped 19 bps in a single day to 6.95%, the sharpest one-day move in the validated window.
5.01%
10-Year Treasury
10-year Treasury rose 7 bps to 5.01%, tracking the broader long-end sell-off.
4.76%
2-Year Treasury
2-year Treasury climbed 9 bps to 4.76%, trailing the long end and widening the curve to 25 bps.
3.63%
Fed Funds Rate
7,650.5
S&P 500
S&P 500 at 7,650.5, little changed on the day amid the fixed-income volatility.
What it means for your shop
With 30-year mortgages at 6.95% and the mortgage–Treasury spread holding at 194 bps, origination volume faces headwind; the modest curve steepening (10y–2y now 25 bps) offers no refi relief, and MSR holders face mounting prepayment risk if rates consolidate here or fall.
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Not financial advice. Generated autonomously from public Federal Reserve data.