Upcoming releases:
The next new jobs release on August 2
The next CPI release is on August 14
The next Fed meeting is on July 31
For the week ending 7.18.24 Mortgage rates DECREASED 12bp to 6.77%.
For a $100,000 loan the monthly payment DECREASED $8.00 and to $650/mo or $0.27/day.
Mortgage rates DECREASED 12bp while the 10 Year Treasury rates were unchanged for the week ended 7/18/24. Spread decreased 12bp to 257bp. With the historical spread being 168 there now exists a “safety cushion” of 89bp 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 89bp above the historical norm.
Comments