Upcoming releases:
The next new jobs release is on August 2.
The next CPI release is July 11.
The next Fed meeting is July 31.
For the week ending 7.5.24 Mortgage rates INCREASED 9bp to 6.95%.
For a $100,000 loan, the monthly payment INCREASED $6.00 and to $662/mo or $0.20/day.
Mortgage rates INCREASED 9bp while the 10-year Treasury rates also DECREASED 1bp for the week ended 7/5/24. Spread increased 10bp to 267bp. With the historical spread being 168 there now exists a “safety cushion” of 0.99bp 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 99bp above the historical norm.
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