For the week ending 8.3.23 Mortgage rates INCREASED 9bp to 7.13%.
For a $100,000 loan the monthly payment INCREASED $6 to $674/month or $0.20/day.
Mortgage rates INCREASED 9bp while the 10 Year Treasury rates INCREASED 19bp for the week ended 8/3/23. The net difference resulted in a 10bp decrease in the spread to 293bp. With the historical spread being 168 there now exists a “safety cushion” of 125bp 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 historical norm.
