For the week ending 09/12/2024, mortgage rates decreased 15bp to 6.20%.
For a $100,000 loan, the monthly payment remained at $612/mo or $0.33/day.
Mortgage rates decreased, while the 10-year treasury rates decreased 5bp for the week ending 09/12/2024. The spread decreased 10bp to 252bp. With the historical spread being 168bp, there now exists a ‘safety cushion’ of 84bp 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 84bp above the historical norm.
Bill Knudson, Research Analyst LANDCO NEXA