Mortgage rates head lower, helped by better mortgage spreads
Housing Wire
JULY 13, 2024
In 2023, following the collapse of Silicon Valley Bank , the spreads between the 30-year mortgage and 10-year yield were at their worst, leading to new cycle highs. This meant mortgage rates were significantly higher than average. However, this year, we’re seeing a different trend with the spreads: they’re improving, and mortgage rates are trending better as a result, even with the 10-year yield still above 4%.
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