For the week ending 3/21/2024, mortgage rates increased 13bp to 6.87%.
For a $100,000 loan, the monthly payment increased $9.00 to $657/mo or $0.29/day.
![](https://landcorealestate.com/wp-content/uploads/1-122.png)
Mortgage rates increased 13bp, while the 10-Year Treasury rates decreased 2bp for the week ending 03/21/2024. The net difference resulted in a 15bp increased in the spread to 250bp. With the historical spread being 168bp, there now exists a ‘safety cushion’ of 92bp above the historical spread.
![](https://landcorealestate.com/wp-content/uploads/2-123.png)
The historic spread between the 10 Year Treasury and mortgage rates is 168pb (see green line, right axis) and currently is 92bp above historical norm.
![](https://landcorealestate.com/wp-content/uploads/3-94.png)
Bill Knudson, Research Analyst LANDCO ARESC