8. Explaining mortgage rates

a. Compare the rate paid by a homeowner on a 30-year mortgage to the rate (yield) paid by the Treasury on long-term Treasury bonds as of November 2023. Explain the difference.

b. Compare the 30-year mortgage rate in November 2023 to the 30-year mortgage rate that existed in September 2023. What do you think is the primary reason for the change in 30-year mortgage rates over the given timeframe?