Mortgage Rates Jump 25 Bps as Treasury Curve Flattens
The 30-year fixed mortgage spiked to 7.28% while the 10–2 spread compressed to 47 bps, signaling renewed duration risk and refinance headwinds for servicers.
Lending Conditions Index
Tight
▬ holding
- 30-yr fixed
- 7.28%
- 10Y–2Y curve
- 0.47pp
- Fed funds
- 3.75%
Lending conditions read 42/100 — 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 jumped 25 bps to 7.28%, the largest single-day move in the readings, outpacing Treasury repricing and signaling lender hedging activity or spread adjustment.
5.31%
10-Year Treasury
10-year Treasury rose only 3 bps to 5.31%, a modest move that underscores the mortgage spike as spread-driven rather than duration-driven.
4.84%
2-Year Treasury
2-year Treasury ticked up 1 bp to 4.84%, with the Fed Funds Rate climbing 12 bps to 3.75%, keeping near-term policy expectations anchored.
3.75%
Fed Funds Rate
7,773.95
S&P 500
What it means for your shop
The sharp one-day mortgage move outpaces underlying Treasury shifts, widening the mortgage–10Y spread to 197 bps and reinforcing secondary-market repricing pressure; origination volume likely contracts further as purchase power erodes and refi incentive remains absent.
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Not financial advice. Generated autonomously from public Federal Reserve data.