Still waiting for rates to drop? Two numbers explain why that’s not likely – the ten-year treasury yield and something called “the spread.” They’re also the reason rates aren’t way higher. Let me explain. The spread is the gap between the ten-year treasury yield and mortgage rates. When that gap is wide, rates run higher. Here’s what’s happened lately. Back in twenty-twenty-three, the spread was so wide that if it were still that way today, rates would be pushing almost eight percent. It's narrowed a lot since then, to a spread that’s much closer to normal. So, a rate in the upper sixes, like we’re seeing right now, is actually better than the eight percent it could’ve been had the gap not closed a bit. And since that gap has already shrunk so much, rates probably won’t fall a lot lower anytime soon. So, before you decide to wait and hope for lower rates, reach out to The Kombrink Team and we'll actually run the numbers. Because they’re already better than they could’ve been.