Mortgage rates drop below 3%

Just over a year ago I published Are mortgage rates headed to 3%?.

Well, this week they dipped below 3%:

Will rates go even lower?

Maybe. I have written many times that the 30-year Fixed Rate Mortgage (FRM) has averaged a spread of about 1.7% above the yield on the US 10-year Treasury (10T).  With 10T yielding 0.62% that would imply a normalised FRM of 2.32%. But, as you may have noticed, these are not normal times.

I will publish a fuller article tomorrow showing the historical links between FRM and 10T – and the other occasions when the spread has widened considerably.

Goodbye Boston, Hello Marblehead
“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Sale, Beverly, Lynn and Swampscott.”


Andrew Oliver
Market Analyst | Team Harborside |

Sagan Harborside Sotheby’s International Realty
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