German outstanding mortgage Pfandbrief yield, 1 to 2 years
German outstanding mortgage Pfandbrief yield, 1 to 2 years stood at 3.35% on Oct 16, 2026, according to Deutsche Bundesbank. It is one of the indicators in the Bond yields and yield curves (daily) table (Value · Daily), with a complete series running from Jul 1, 1996 to Oct 16, 2026. The complete series with an interactive chart, free to download.
This indicator in the Bond yields and yield curves (daily) table
| Indicator | 16-10-2026 | 15-10-2026 | 14-10-2026 | 13-10-2026 | 12-10-2026 | 09-10-2026 | 08-10-2026 | 07-10-2026 | 06-10-2026 | 05-10-2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Yields on Mortage Pfandbriefe outstanding | |||||||||||
| Residual maturity of more than 1 but not more than 2 years | 3.35 | 3.34 | 3.36 | 3.34 | 3.35 | 3.36 | 3.36 | 3.33 | 3.31 | 3.33 | |
| Residual maturity of more than 2 but not more than 3 years | 3.54 | 3.52 | 3.56 | 3.55 | 3.56 | 3.55 | 3.56 | 3.55 | 3.52 | 3.54 |
Understanding german outstanding mortgage Pfandbrief yield, 1 to 2 years
Short-term funding costs in the property-backed covered bond market, specifically tracking securities with a residual lifespan of twelve to twenty-four months. By isolating the near end of the maturity spectrum, this series captures pricing heavily influenced by immediate monetary policy settings rather than long-term inflation expectations. It differs from both the aggregate index and longer-dated peers by reacting most directly to central bank rate adjustments. The underlying collateral consists exclusively of real estate mortgages, separating it from identically dated public Pfandbriefe which rely on state or municipal loans.
Reading this short-end indicator involves focusing on its spread against equivalent-maturity sovereign debt. Daily prints are not smoothed for seasonality, as fixed-income trading operates continuously based on real-time fundamentals. Historical breaks might appear if the pool of eligible short-dated bonds shrinks dramatically or if calculation methodologies for the curve shift. Tracking the daily difference between this and the two-year Bund illustrates the precise collateral premium in the property market. Examining year-on-year levels is less informative than mapping the yield curve's slope; an inverted curve where this short rate exceeds the ten-year yield signals distinct market stress or aggressive policy tightening.
Frequently asked questions
- Why use this specific maturity?
- It isolates the segment of the property funding market most responsive to immediate central bank policy changes.
- Can I compare this directly to the aggregate index?
- No, the aggregate index blends all maturities, while this strictly isolates the near end of the curve.
- Are public sector loans included here?
- No, the underlying collateral is restricted entirely to real estate mortgages.