For the week ending 2/08/2024, mortgage rates increased 1bp to 6.64%.
For a $100,000 loan, the monthly payment increased $1.00 to $645/mo or $0.02/day.
![](https://landcorealestate.com/wp-content/uploads/1-111.png)
Mortgage rates increase 1bp, while the 10-Year Treasury rates increased 28bp for the week ending 02/08/2024. The net difference resulted in a 27bp decreased in the spread to 249bp. With the historical spread being 81bp, there now exists a ‘safety cushion’ of 108bp above the historical spread.
![](https://landcorealestate.com/wp-content/uploads/2-113.png)
The historic spread between the 10 Year Treasury and mortgage rates is 168pb (see green line, right axis) and currently is 81bp above historical norm.
![](https://landcorealestate.com/wp-content/uploads/3-88.png)
Bill Knudson, Research Analyst LANDCO ARESC