How Adjustable-Rate Mortgages Work: Resets, Caps, and SOFR
Learn how adjustable-rate mortgages work: the SOFR reference index, lender margins, 2/2/5 cap structures, and exact reset payment math.
Federal Reserve & Rates
Follow Federal Reserve decisions, interest rates and monetary policy. Explore what changes in short-term rates and bond yields mean, with links to original releases and market explainers. Find your way around ECMSource.
30-Year Mortgage Rates Cross 7% as 10-Year Treasury Hits 5%
30-year fixed mortgage rates jumped back above 7% as the 10-year Treasury touched 5% and MBS spreads widened. Here is what is driving borrowing costs.
10-Year Treasury Yield Tops 5%: Inside BofA’s Bond Call
As the 10-year Treasury yield clears 5.00%, Bank of America calls the century-worst bond slump a generational entry point for patient capital.
Bank of England Holds at 3.75%: Gilts Slide on 6-3 Split
The Bank of England held rates at 3.75% in a 6-3 vote, defying the Fed’s rate hike. Benchmark 10-year and 30-year gilt yields tumbled as markets weighed inflation.
CoreWeave Launches $3B Convertible Debt Sale for AI Buildout
CoreWeave announced a $3B Rule 144A convertible senior notes offering due 2033 with capped calls to lower financing costs and fund AI infrastructure capex.
Lennar Falls as Q3 Profit Halves to $284M and Margins Shrink
Lennar reported Q3 2026 net income of $284 million, down 52% YoY, as 6.8% mortgage rates forced builder incentives and squeezed gross margins to 15.8%.
The Prime Rate Explained: How It Is Set and What It Moves
Learn what the prime rate is, how banks set it 300 basis points above the Fed funds rate, and how it directly affects credit cards, HELOCs, and loans.
Fed Floor System: How IORB and ON RRP Set Interest Rates
Discover how the Federal Reserve’s floor system controls interest rates using administered rates like IORB, the ON RRP facility, and the discount window.
Fed Hikes Rates to 4.00%: Bond Yields and Dot Plot Reaction
The Federal Reserve raised its policy rate 25 bps to 3.75%-4.00% in a 12-0 vote, lifting 2026 dot plot forecasts to 4.1% as Treasury yields hover near 5%.
Fed Funds vs. 10-Year Treasury: Why Long-Term Rates Diverge
Why do 10-year Treasury yields move opposite to Fed rate cuts? Learn how the Fed sets overnight rates while markets price inflation, growth, and term premium.