For the week ending 05/09/2024, mortgage rates decreased 13bp to 7.09%.
For a $100,000 loan, the monthly payment decreased $9.00 to $671/mo or $0.29/day.
![](https://landcorealestate.com/wp-content/uploads/1-134.png)
Mortgage rates decreased 13bp, while the 10-Year Treasury rates decreased 12bp for the week ending 05/09/2024. The net difference resulted in a 0bp change in the spread to 264bp. With the historical spread being 168bp, there now exists a ‘safety cushion’ of 96bp above the historical spread.
![](https://landcorealestate.com/wp-content/uploads/2-136.png)
The historic spread between the 10 Year Treasury and mortgage rates is 168pb (see green line, right axis) and currently is 96bp above historical norm.
![](https://landcorealestate.com/wp-content/uploads/3-102.png)
Bill Knudson, Research Analyst LANDCO ARESC