Upcoming releases:
The next new jobs release Sept 6 8/2/24 114,000 vs 7/5/24 206,000. This assures the Fed that the economy is NOT overheating and a rate cut on Sept 18 is much more likely.
The next CPI release is August 14
The next Fed meeting is Sept 18
For the week ending 8.1.24 Mortgage rates DECREASED 5bp to 6.73%.
For a $100,000 loan the monthly payment DECREASED $3.00 and to $647/mo or $0.11/day.
Mortgage rates DECREASED 5bp while the 10-year Treasury rates decreased 28bp for the week ended 8/1/24. Spread increased 23bp to 274bp. With the historical spread being 168, a “safety cushion” of 106bp is now above the historical spread.
Mortgage rates DECREASED 5bp while the 10-year Treasury rates decreased 28bp for the week ended 8/1/24. Spread increased 23bp to 274bp. With the historical spread being 168, a “safety cushion” of 106bp is now above the historical spread.
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