For the week ending 05/23/2024, mortgage rates decreased 8bp to 6.94%.
For a $100,000 loan, the monthly payment decreased $5.00 to $661/mo or $0.18/day.
![](https://landcorealestate.com/wp-content/uploads/1-136.png)
Mortgage rates decreased 8bp, while the 10-Year Treasury rates increased 9bp for the week ending 05/23/2024. The net difference resulted in a 17bp decreased in the spread to 247bp. With the historical spread being 168bp, there now exists a ‘safety cushion’ of 79bp above the historical spread.
![](https://landcorealestate.com/wp-content/uploads/2-138.png)
The historic spread between the 10 Year Treasury and mortgage rates is 168pb (see green line, right axis) and currently is 79bp above historical norm.
![](https://landcorealestate.com/wp-content/uploads/3-103.png)
Bill Knudson, Research Analyst LANDCO ARESC