Upcoming releases:
The next new jobs release Sept 6
The next CPI release is September 11
The next Fed meeting is Sept 18
For the week ending 8.22.24 Mortgage rates INCREASED 3bp to 6.46%.
For a $100,000 loan the monthly payment INCREASED $2.00 and to $629/mo or $0.07/day.
Mortgage rates DECREASED 3bp while the 10 Year Treasury rates were DECREASED 6bp for the week ended 8/22/24. Spread increased 3bp to 260bp. With the historical spread being 168 there now exists a “safety cushion” of 92bp 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 92bp above the historical norm.
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