For the week ending 3/7/2024, mortgage rates decreased 6bp to 6.88%.
For a $100,000 loan, the monthly payment decreased $4.00 to $657/mo or $0.13/day.
![](https://landcorealestate.com/wp-content/uploads/1-116.png)
Mortgage rates decreased 6bp, while the 10-Year Treasury rates decreased 16bp for the week ending 03/7/2024. The net difference resulted in a 10bp increased in the spread to 279bp. With the historical spread being 168bp, there now exists a ‘safety cushion’ of 111bp above the historical spread.
![](https://landcorealestate.com/wp-content/uploads/2-118.png)
The historic spread between the 10 Year Treasury and mortgage rates is 168pb (see green line, right axis) and currently is 111bp above historical norm.
![](https://landcorealestate.com/wp-content/uploads/3-91.png)
Bill Knudson, Research Analyst LANDCO ARESC