Upcoming releases:
The next new jobs release is on August 2. The prior month was a 206,000 increase.
The next CPI release is August 14.
The next Fed meeting is July 31.
For the week ending 7.25.24 Mortgage rates INCREASED 1bp to 6.78%.
For a $100,000 loan, the monthly payment INCREASED $1.00 and to $651/mo or $0.02/day.
Mortgage rates INCREASED 1bp while the 10 Year Treasury rates increased 7bp for the week ended 7/25/24. Spread decreased 6bp to 251bp. With the historical spread of 168bp, a “safety cushion” of 83bp is now 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 83bp above the historical norm.
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