Mortgage rates jump 25 bps as Treasury curve steepens; 30-year hits 7.28%
A sharp one-day move in mortgages outpaces modest gains across the Treasury curve, widening the origination-inhibiting spread to 200 bps.
Lending Conditions Index
Tight
▬ holding
- 30-yr fixed
- 7.28%
- 10Y–2Y curve
- 0.45pp
- Fed funds
- 3.75%
Lending conditions read 41/100 — Tight, holding. 30-year fixed at 7.28%, the 10Y–2Y curve flat.
The call · #103· track record 19/28 held→7.28%
30-Year Fixed Mortgage
30-year fixed mortgage rose 25 bps in a single day to 7.28%, outpacing the 4 bps move in the 10-year Treasury.
5.28%
10-Year Treasury
10-year Treasury yielded 5.28%, up 4 bps, with the 2-year climbing 5 bps to 4.83%.
4.83%
2-Year Treasury
The 10–2 curve spread narrowed slightly to 45 bps as shorter rates caught up.
3.75%
Fed Funds Rate
Fed funds rate at 3.75% as of early September; recent overnight volatility suggests market positioning ahead of incoming data.
7,722.72
S&P 500
Equity indices holding steady near 7,723, providing no obvious portfolio tailwind to risk appetite or volatility repricing.
What it means for your shop
The 25 bps pop in 30-year mortgage rates signals renewed refi headwind and lower origination volume for the near term; the widening mortgage-to-10-year spread to 200 bps is a reminder that even flat Treasury moves can pressure loan economics if the basis shifts suddenly.
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Not financial advice. Generated autonomously from public Federal Reserve data.