Mortgage Rates Index – MAR 26

Tracking the change in price of all mortgage rates

TABLE OF CONTENTS

• Introduction

• Mortgage Rate Index

• Index Methodologies

• Mortgage Spreads

• Mortgage Automation

INTRODUCTION

The LendZen Index tracks the price of mortgage rates across a spectrum of mortgage-backed securities.

Each chart starts at $0 for the first date 🔵 of the time series and measures the rate of change in dollar terms per $100K of loan amount.

The most expensive point in the series is marked with a red 🔴 dot, and the least expensive with a green 🟢 dot.

The measurements in the key box show the total change in price between each colored dot on the index, including high-to-low for descending charts and low-to-high for ascending charts.

This publication is focused on the index data only. If you want to dive deeper into the events influencing markets and mortgage rates, then visit my Weekly Kut Substack.

To shop real-time mortgage rates and get instant qualification results visit LendZen.com

LendZen provides a fully automated mortgage shopping experience that gives you anonymous access to all mortgage rates with full transparency of costs upfront.

MORTGAGE RATE INDEX

The 5-Day change in price is +32 basis points (bps).

The last 24-hour change is +40 bps.

Since March 13, the price of mortgage rates increased 88 basis points, as seen in the 10-Day chart below.

During the last 30 days (🔵 to 🟡) mortgages have increased in price by 198 basis points.

The 30-Day chart is useful for spotting trends, plus it gives value to them.

For example, the change in price from the low 🟢 to the high 🔴 was 211 basis points.

This was a change of $10,550 on a $500,000 mortgage.

Since starting the index on May 1, 2025, mortgage rates are now  44 bps less expensive.

The highest price was May 22, and the lowest price was February 27.

INDEX METHODOLOGIES

Most mortgages are sold into mortgage-backed securities (MBS). The price of these bonds determines rates for all banks and lenders.

However, mortgage rates DO NOT rise or fall.

The full range of rates is always available, and instead the price of each rate is what changes.

For example, when mortgage bond prices fall the fee for each rate increases. The same rates exist, but now each is more expensive.

Traditional mortgage indices falsely suggest rates are changing by posting a daily “average” they conjure up from unverifiable data.

Meanwhile, the LendZen Index tracks the price of each mortgage rate across a spectrum of publicly traded MBS.

This provides a clearer picture of how the cost to obtain a mortgage has changed, regardless of the lender, rate, or borrower credit score.

LENDZEN MORTGAGE TREASURY SPREAD

Tracking the “spread” between mortgages and treasury bonds can provide useful perspectives, but only if measured accurately.

There are unique dynamics of mortgage-backed securities, such as prepayment speeds, that are overlooked by the “average rate” indexes.

However, these variables heavily influence how investors allocate to mortgage bonds, and a spread that is calculated without this information has critical flaws that make it unreliable.

The LendZen Mortgage Treasury Spread (LMTS) uses actual bond yields to create a historically consistent, and reliable, data set.

Mar 26  =  1.11           24h  =  + 2 bps 

12m Avg  =  1.13       YoY  =  - 17 bps 

LENDZEN MORTGAGE AUTOMATION

In addition to the insights provided by the LendZen Index and the LMTS, you can also check real-time mortgage rates without any human interaction.

LendZen.com (NMLS# 375788) provides a fully automated mortgage shopping experience that gives you anonymous access to all mortgage rates with full transparency of costs upfront as bond prices change.

This eliminates the need for the salespeople who make mortgages so expensive at other lenders.

Some of the unique features you will find on LendZen include:

• Customize your own loan in under a minute and get instant qualification results for your exact scenario. Then revisit your real-time options anytime in the future with just one-click – no need to contact a salesperson, reply to “quote threads”, or fill out documents.

• Request an official Loan Estimate for the exact pricing you see online with no extra steps.

• Refinance loans get an instant BREAKEVEN analysis based on pure math and without any sales bias. The analysis shows you whether a refinance will benefit you and what rate has the most savings, using any timeline you decide.

All of this is at your fingertips when you visit LendZen.com