Mortgage-Backed Securities (MBS) news and market signals

The average 30-year fixed mortgage rate has climbed to 6.91 percent, creating a stark contrast with existing outstanding mortgages that average just 4.3 percent. This widening spread intensifies the lock-in effect, as current homeowners face a steep financial penalty if they choose to sell and refinance at today's higher rates. Consequently, transaction volumes in the existing home market face persistent downward pressure.