A larger share of borrowers paid high prices for their mortgage credit last year, a new Federal Reserve Board analysis of recently-released Home Mortgage Disclosure Act data reveals. At issue are “rate-spread” mortgages, or first-lien loans with annual percentage rates that exceed the yield on comparable Treasuries by 3 percent or more. For second mortgages, the APR threshold is 5 percent above comparable Treasuries. The Fed added the pricing data...