For the week ending 11/28/24, mortgage rates decreased by 3 bp to 6.81%.
For a $100,000 loan, the monthly payment fell to $653, equivalent to a reduction of $0.07 per day.
Mortgage rates decreased by 3 bp, while 10-Year Treasury rates dropped by 18 bp for the week ending 11/28/24.
The spread widened by 15 bp to 256 bp. With the historical spread at 168 bp, there is now a “safety cushion” of 88 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 88 bp above the historical norm.
In July, this spread was 150 bp. Mortgage rates have decreased at a faster pace than the 10-Year Treasury.
Bill Knudson, Research Analyst LANDCO NEXA