For the week ending 11.30.2023, mortgage rates decreased 7bp to 7.45%.
For a $100,000 loan, the monthly payment decreased $5 to $700/mo or $0.16/day.
Mortgage rates decreased 7bp, while the 10-Year Treasury rates decreased 10bp for the week ending 11.30.23. The net difference resulted in a 3bp increased in the spread to 308bp. With the historical spread being 168bp, there now exists a ‘safety cushion’ of 140bp above the historical spread.
The historic spread between the 10-Year Treasury and mortgage rates is 168bp (see green line, right axis), and currently, it is 140bp above the historical norm.
Bill Knudson, Research Analyst LANDCO ARESC