Ivy Zelman

Difference btw 30-yr fixed & 10-yr, spread btw rates lower than it was in 2020, but it’s roughly in line w/average spread over past decade...conceivable mortgage rates could remain near all-time lows even as Treasury yields grind higher #Housing cc @Ivy_Zelman @BChappatta

@name_elsewhere @DiMartinoBooth @Ivy_Zelman @BChappatta What I mean by normalize is that mortgage originators are making double the profit margins they normally achieve so they will lower their prices or reduce their margins translating into lower mortgage rates for longer even as the 10yr yield could rise as much as 40-50bps or more.