For the week ending 08/22/2024, mortgage rates decreased 3bp to 6.46%.
For a $100,000 loan, the monthly payment increased $2.00 to $629/mo or $0.07/day.
Mortgage rates decreased 3bp, while the 10-Year Treasury rates decreased 6bp for the week ending 08/22/2024. The Spread increased 3bp to 260bp. With the historical spread being 168bp, there now exists a ‘safety cushion’ of 92bp above the historical spread.
The historic spread between the 10 Year Treasury and mortgage rates is 168pb (see green line, right axis) and currently is 92bp above historical norm.
Bill Knudson, Research Analyst LANDCO NEXA