For the week ending 12.28.2023, mortgage rates decreased 6bp to 6.61%.
For a $100,000 loan, the monthly payment decreased $4 to $639/mo or $0.13/day.
Mortgage rates decreased 6bp, while the 10-Year Treasury rates decreased 5bp for the week ending 12.28.23. The net difference resulted in a 1bp decreased in the spread to 277bp. With the historical spread being 168bp, there now exists a ‘safety cushion’ of 119bp 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 109bp above historical norm.
Bill Knudson, Research Analyst LANDCO ARESC