Nope! I got a 2.0% mortgage in 2021 (no points or anything) and the bank then turned around and sold it to Freddie who paid them 1.7% (so the bank made a nice 0.3% just for originating the loan).

Then Freddie packed my loan and sold it to others for something likely to be below 1.7%...

>You can almost find government bonds with similar average yields.

Not a few years ago. T-Bills were paying like 0.1% in 2021[1]

[1] https://home.treasury.gov/resource-center/data-chart-center/...

And 10-year bonds were well below 1%.

https://fred.stlouisfed.org/series/DGS10

Weren't the rates on government bonds negative if you were a large investor like a bank?