Mortgage Spread Widens as 30-Year Fixed Climbs to 7.03%
A sharp one-day move in long rates has pushed the 30-year mortgage 8 basis points higher while the curve flattens further.
Lending Conditions Index
Tight
▬ holding
- 30-yr fixed
- 7.03%
- 10Y–2Y curve
- 0.31pp
- Fed funds
- 3.63%
Lending conditions read 44/100 — Tight, holding. 30-year fixed at 7.03%, the 10Y–2Y curve flat.
The call · #103· track record 19/28 held→7.03%
30-Year Fixed Mortgage
30-year fixed mortgage is now 7.03%, up 8 basis points on the day.
5.18%
10-Year Treasury
10-year Treasury rose 7 basis points to 5.18%, driving the mortgage move wider.
4.87%
2-Year Treasury
2-year Treasury crept up just 2 basis points to 4.87%, extending the shallow yield curve.
3.63%
Fed Funds Rate
Fed Funds Rate holding at 3.63%, unchanged since August.
7,743.41
S&P 500
S&P 500 closed at 7,743.41, up on the day but not a driver of rate direction.
What it means for your shop
The 185 bps spread between 30-year mortgages and 10-year Treasuries is now elevated, squeezing origination margins and raising the cost of primary servicing hedges; originators pricing new locks today face a narrower rate window, and refi demand will likely remain weak.
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Not financial advice. Generated autonomously from public Federal Reserve data.