With the 10-year Treasury at 1.78% and 30-year mortgage rates reaching their 2016 low last week at 3.59%, and with the IMF again downgrading their estimate of global growth, there’s talk of 30-year mortgage rates possibly reaching the 3.35% low of 2012. Based on the relationship between the two rates, the 10-Treasury would have to fall to below 1.5% for mortgage rates to fall below 3.35%. Still a ways away.