For the week ending 09/05/2024, the mortgage rate remained unchanged at 6.35%.
For a $100,000 loan, the monthly payment stayed at $622 per month, or $0.24 per day.
Mortgage rates remained unchanged, while the 10-year Treasury rates decreased by 14 bp for the week ending 09/05/2024. The spread also decreased by 14 bp to 262 bp. With the historical spread at 168 bp, there is now a ‘safety cushion’ of 94 bp above the historical spread.
The historic spread between the 10-year treasury and mortgage rates is 168 pb (see green line, right axis) and currently is 94 bp above the historical norm.
Bill Knudson, Research Analyst LANDCO NEXA