Lawler: Update on Mortgage Rates and Spreads

From housing economist Tom Lawler:

For the second consecutive year 2023 saw high levels of volatility in the US fixed-income markets in general and the mortgage/MBS markets in particular. Unlike in 2022, however, key Treasury rates and mortgage/MBS yields ended 2023 close to where they began.

30-Yr CCMBS: Yield on “notional par” MBS derived from price f…