Upcoming releases:
The next new jobs report will be released October 4. The most recent was released September 6 (increased from 114,000 to 142,000 a moderate amount. Unemployment rate slightly decreased from 4.3% to 4.2%)
The next CPI will be released on October 10. The most recent was released September 11 (decreased from 2.9% to 2.5% as the the large Aug 2023 data fell out of the CPI annual 12 month rolling calc)
Next Fed meeting is September 18.
For the week ending 9.12.24 Mortgage rates DECREASED 15bp to 6.20%.
For a $100,000 loan the monthly payment remained at $612/mo or $0.33/day
Mortgage remained the same while the 10-year Treasury rates were DECREASED 5bp for the week ended 9/12/24. Spread decreased 10bp to 252bp. With the historical spread being 168 there now exists a “safety cushion” of 84bp 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 84bp above the historical norm.
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