Yet if historical mortgage spreads are any indication of the future, mortgage rates may still drop slightly lower, by 20 to 30 basis points - within the "normal" range of 120 to 150 basis points over comparable term treasuries. Given today's rates, the possibility of lower 3% fixed rate debt for 10 year loans is not remote. This type of pricing is so low, substantially narrowing the gap between fixed and floating rate debt.
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