For the week ending 11/21/24, mortgage rates increased by 6 bp to 6.84%.
For a $100,000 loan, the monthly payment rose to $650 per month, equivalent to an increase of $0.13 per day.
Mortgage rates increased by 6 bp, while 10-Year Treasury rates remained unchanged for the week ending 11/21/24.
The spread increased by 6 bp to 241 bp. With the historical spread at 168 bp, there is now a “safety cushion” of 73 bp above the historical average.
The historical spread between the 10-Year Treasury and mortgage rates is 168 bp (see green line, right axis) and is currently 73 bp above the historical norm.
In July, this spread was 150 bp. Mortgage rates have decreased more than 10-Year Treasury rates during this period.
Bill Knudson, Research Analyst LANDCO NEXA