German outstanding mortgage Pfandbrief yield, 9 to 10 years
German outstanding mortgage Pfandbrief yield, 9 to 10 years stood at 3.79% on Oct 15, 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 15, 2026. The complete series with an interactive chart, free to download.
This indicator in the Bond yields and yield curves (daily) table
| Indicator | 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 | 02-10-2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Yields on Mortage Pfandbriefe outstanding | |||||||||||
| Residual maturity of more than 9 but not more than 10 years | 3.79 | 3.85 | 3.84 | 3.86 | 3.87 | 3.91 | 3.9 | 3.83 | 3.86 | 3.85 | |
| Residual maturity of more than 7 | 3.81 | 3.87 | 3.85 | 3.87 | 3.87 | 3.92 | 3.9 | 3.86 | 3.88 | 3.88 |
Understanding german outstanding mortgage Pfandbrief yield, 9 to 10 years
Long-term benchmark borrowing costs for property-backed covered bonds, specifically focusing on debt with a residual maturity of one hundred and eight to one hundred and twenty months. This is the cornerstone tenor for financing decade-long fixed-rate residential mortgages in Germany. The series exclusively measures yields on bonds collateralized by real estate, ensuring total separation from public sector Pfandbriefe or standard corporate issuance. Because it targets the ten-year horizon, the indicator heavily incorporates long-term inflation expectations, demographic trends, and structural housing demand, setting it entirely apart from shorter-dated maturity brackets.
Reviewing this ten-year benchmark demands a focus on the credit spread rather than just the outright yield. Since bond trading occurs daily without seasonal patterns, the series utilizes raw, unadjusted market pricing. The figures are definitive upon release, with revisions limited to extreme technical corrections. Comparing this yield against the ten-year Bund is the standard method for isolating the systemic risk of the mortgage sector. Rather than looking at day-to-day absolute changes, an honest assessment of market conditions comes from plotting this spread over time, which reveals periods of constrained liquidity or heightened credit concerns in the long-term property finance market.
Frequently asked questions
- Why is the ten-year yield heavily monitored?
- It acts as the central reference point for long-term, fixed-rate residential mortgages.
- What drives fluctuations at this specific maturity?
- It is heavily influenced by long-term inflation expectations and structural housing demand.
- How should structural risk be assessed using this data?
- By tracking the long-term spread between this rate and the corresponding supreme sovereign bond.