For the week ending 05/02/2024, mortgage rates increased 5bp to 7.22%.
For a $100,000 loan, the monthly payment increased $3.00 to $680/mo or $0.11/day.
![](https://landcorealestate.com/wp-content/uploads/1-132.png)
Mortgage rates increased 5bp, while the 10-Year Treasury rates decreased 12bp for the week ending 05/02/2024. The net difference resulted in a 17bp increased in the spread to 264bp. With the historical spread being 168bp, there now exists a ‘safety cushion’ of 96bp above the historical spread.
![](https://landcorealestate.com/wp-content/uploads/2-134.png)
The historic spread between the 10 Year Treasury and mortgage rates is 168pb (see green line, right axis) and currently is 96bp above historical norm.
![](https://landcorealestate.com/wp-content/uploads/3-101.png)
Bill Knudson, Research Analyst LANDCO ARESC