Upcoming releases:
The next new jobs release September 6 (weekly unemployment filings have been flat in August)
The next CPI release is September 11 (likely to move from 2.9% to 2.5% as the Aug 2023 data falls out of the CPI annual 12-month rolling calc)
The next Fed meeting is September 18.
For the week ending 9.5.24 Mortgage rates no change and remained at 6.35%.
For a $100,000 loan the monthly payment remained at $622/mo or $0.24/day.
Mortgage remained the same while the 10-year Treasury rates were DECREASED 14bp for the week ended 9/5/24. Spread increased 14bp to 262bp. With the historical spread being 168 there now exists a “safety cushion” of 94bp 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 94bp above the historical norm.
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