Upcoming releases:
The next new jobs report is March 7 - On Feb 7 new jobs decreased from the prior month's 256,000 to 143,000. The unemployment rate decreased from 4.1% to 4.0%
The next CPI release is March 12 - On Feb 12 monthly CPI came in at 0.5%, up from the prior month's 0.4%. Annual increase from 2.9% to 3.0%
The next Fed meeting is March 19
For the week ending 2.13.25 Mortgage rates DECREASED 2bp to 6.87%.
This past week, for a $100,000 loan the monthly payment decreased from $658/mo to $657/mo or $0.04 a day.
For the week ending 2.13.25 mortgages decreased 2bp while the 10 Year Treasury rates increased 7bp. Spread decreased 9bp to 235bp. With the historical spread being 168 there now exists a “safety cushion” of 67bp 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 67bp above the historical norm. In July 2024 this spread was 150bp. Mortgage rates have decreased for more than the 10-year.
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