For the week ending 11/14/24, mortgage rates decreased by 1 bp to 6.78%.
For a $100,000 loan, the monthly payment increased to $650 per month, equivalent to an increase of $0.02 per day.
Mortgage rates decreased by 1 bp, while 10-Year Treasury rates rose by 12 bp for the week ending 11/14/24.
The spread decreased by 13 bp to 235 bp. With the historical spread at 168 bp, there is now a “safety cushion” of 67 bp above the historical average.
The historic spread between the 10-Year Treasury and mortgage rates is 168 bp (see green line, right axis) and is currently 67 bp above the historical norm.
In July, this spread was 150 bp. Mortgage rates have decreased more than the 10-Year Treasury since then.
Bill Knudson, Research Analyst LANDCO NEXA