For the week ending 4.11.24 Mortgage rates INCREASED 6bp to 6.88%.
For a $100,000 loan the monthly payment INCREASED $4.00 and to $657/mo or $0.13/day.
Mortgage rates INCREASED 6bp while the 10-year Treasury rates INCREASED 25bp for the week ended 4/11/24. The net difference resulted in a 19bp decrease in the spread to 232bp. With the historical spread being 168 there now exists a “safety cushion” of 64bp above the historical spread.
The historic spread between the 10-year Treasury and mortgage rates is 168pb (see the green line, right axis) and currently is 64bp above the historical norm.
