Upcoming releases:
The next new jobs report is December 6.
The next CPI release is December 11
The next Fed meeting is December 18
For the week ending 12.5.24 Mortgage rates DECREASED 12bp to 6.69%.
For a $100,000 loan, the monthly payment decreased to $645/mo or $0.27/day.
Mortgages decreased 12bp while the 10 Year Treasury rates decreased 8bp for the week ended 12/5/24. Spread decreased 4bp to 252bp. With the historical spread being 168 there now exists a “safety cushion” of 84bp above the historical spread.
The historic spread between the 10-year Treasury and mortgage rates is 168pb (see green line, right axis) and is currently 84bp above the historical norm.
In July this spread was 150bp. Mortgage rates have decreased more than the 10-year.
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