For the week ending 10.26.23 Mortgage rates INCREASED 16bp to 8.02%.
For a $100,000 loan the monthly payment INCREASED $11 to $735/mo or $0.37/day.
Mortgage rates INCREASED 16bp while the 10-year Treasury rates DECREASED 12bp for the week ended 10/26/23. The net difference resulted in a 28bp increase in the spread to 316bp. With the historical spread being 168 there now exists a “safety cushion” of 148bp 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 148bp above the historical norm.
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