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13min chapter
Elon Musk vs Mark Cuban, China Invading Taiwan, the Return of ISIS | PBD Podcast | Ep. 346
PBD Podcast
The Impact of Higher Mortgage Rates
This chapter explores the reasons behind the higher mortgage rates in the current market, including the spread that banks put on mortgages due to prepayment risk. It discusses the historical rate of the 10-year treasury plus 1.5 as the 30-year fixed mortgage rate, and why the current rates are higher. The chapter also highlights the business costs for banks and how they build in prepayment spread to make their mortgages profitable.
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