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See also: Mortgage Tidbits below.
Most lenders are still showing patience with fixed rates. So far, just 7 of 30 national lenders have boosted mortgage pricing following the recent yield spike.
That said, with swap spreads at a 14-month low—and 20 bps below the five-year average—that patience will wear thin if yields continue higher.
Lenders hoping to escape further spread compression watched bonds guided by soft data and political drama on Wednesday.