Redfin Reports the Mortgage Spread Has Dropped to a 3-Year Low. That’s Good News for Homebuyers and Refinancers.

SEATTLE--(BUSINESS WIRE)--The gap between 10-year treasury yields and mortgage rates (known as the mortgage spread) has dropped to its lowest level in over three years, allowing mortgage rates to fall more than treasury yields. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. The spread was 2.26 percentage points as of August 22, down from about 2.5 at the start of summer and 2.68 a year earlier. That’s good news for house hunters and homeowners looking