For the week ending 08/15/2024, mortgage rates increased 2bp to 6.49%.
For a $100,000 loan, the monthly payment increased $1.00 to $631/mo or $0.04/day.
Mortgage rates increased 2bp, while the 10-Year Treasury rates decreased 7bp for the week ending 08/15/2024. The Spread increased 9bp to 257bp. With the historical spread being 168bp, there now exists a ‘safety cushion’ of 89bp above the historical spread.
The historic spread between the 10 Year Treasury and mortgage rates is 168pb (see green line, right axis) and currently is 89bp above historical norm.
Bill Knudson, Research Analyst LANDCO NEXA