# Mortgage

Source: https://www.yieldcurve.pro/mortgage

Charts weekly 30-Year and 15-Year fixed mortgage rates from the Freddie
Mac Primary Mortgage Market Survey (PMMS), plus the spread between the
30-Year mortgage rate and the 10-Year Treasury yield. Use the date
picker to zoom into any period.



Series

* **30 Yr Fixed** — average rate on a 30-year fixed-rate mortgage,
  the most common home loan product in the US (FRED series MORTGAGE30US)
* **15 Yr Fixed** — average rate on a 15-year fixed-rate mortgage
  (FRED series MORTGAGE15US)
* **30 Yr Spread** — difference between the 30 Yr mortgage rate and the
  10 Yr Treasury yield. Reflects credit risk, prepayment risk, and
  origination costs. Typically 150-250 bps.
* **15 Yr Spread** — difference between the 15 Yr mortgage rate and the
  10 Yr Treasury yield. Generally tighter than the 30 Yr spread due to
  lower prepayment and duration risk.

Use Cases

* monitor mortgage affordability for housing market analysis
* track the mortgage-Treasury spread for MBS relative value
* compare mortgage rate cycles with Fed tightening/easing
* identify periods of unusual spread compression or widening