For the week ending 9.21.23 Mortgage rates INCREASED 1bp to 7.42%.
For a $100,000 loan, the monthly payment INCREASED $1 to $694/mo or $0.2/day
30.
Mortgage rates INCREASED 1bp while the 10-Year Treasury rates INCREASED 20bp for the week ended 9/2123. The net difference resulted in a 19bp decrease in the spread to 293bp. With the historical spread being 168, a “safety cushion” of 125 bp 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 125bp above the historical norm.
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