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Mortgage Rates Update: December 28th, 2023

For the week ending 12.28.23 Mortgage rates DECREASED 6bp to 6.61%. (12.28.23 I removed 23bp in points from the Freddie Mac rates)

For a $100,000 loan the monthly payment DECREASED $4 to $639/mo or $0.13/day.


Mortgage rates DECREASED 6bp while the 10-year Treasury rates DECREASED 5bp for the week ended 12/28/23. The net difference resulted in a 1bp decrease in the spread to 277bp. With the historical spread being 168 there now exists a “safety cushion” of 119bp 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 109 bp above the historical norm.


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