Lewis Ranieri, the co-inventor of MBS, believes the yield on the 10-year Treasury could fall to as low as 2.5% this year.

Friday morning, the 10-year was at 2.94%, two days after it broke through a recent floor of 2.9%. In an email exchange with National Mortgage News, he offered no color on his prediction. But if his forecast comes true, it means mortgage rates could fall further (from their already historic lows) and lenders could benefit from a refinancing wave.

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