It comes as no surprise that mortgage rates, being the interest rates charged on long-term loans collateralized by residential real estate, broadly follow market interest rates largely benchmarked by longer-term Treasury yields. It is somewhat surprising, therefore to see even
I can't paste the FRED chart here, but what I think is more interesting is the dramatic increase in the spread between the 30-year Treasury bond yield and the 30-year average mortgage rate. 18 months ago mortgages were 0.5 points above comparable Treasury yields and today they are 3 full points higher.
I can't paste the FRED chart here, but what I think is more interesting is the dramatic increase in the spread between the 30-year Treasury bond yield and the 30-year average mortgage rate. 18 months ago mortgages were 0.5 points above comparable Treasury yields and today they are 3 full points higher.