For the week ending 10/17/24, mortgage rates increased by 12 bp to 6.44%.
For a $100,000 loan, the monthly payment rose to $628 per month, equivalent to an increase of $0.26 per day.
Mortgage rates increased by 12 bp, while the 10-Year Treasury remained unchanged for the week ending 10/17/24.
The spread widened by 12 bp to 235 bp. With the historical spread at 168 bp, there is now a “safety cushion” of 67 bp above the historical average.
The historic spread between the 10-Year Treasury and mortgage rates is 168 bp (see green line, right axis) and is currently 67 bp above the historical average.
In July, this spread was 150 bp. Mortgage rates have since decreased more than the 10-Year Treasury.
Bill Knudson, Research Analyst LANDCO NEXA