For the week ending 09/26/2024, mortgage rates decreased 1bp to 6.08%.
The monthly payment for a $100,000 loan decreased to $605/mo or $0.02/day.
Mortgage rates decreased, while the 10-year treasury rates increased 6bp for the week ending 09/26/2024. The spread decreased 7bp to 229bp. With the historical spread being 168bp, a ‘safety cushion’ of 61bp is now above the historical spread.
The historic spread between the 10-year treasury and mortgage rates is 168pb (see green line, right axis) and is 61bp above the historical norm.
Bill Knudson, Research Analyst LANDCO NEXA