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Mortgage Rates Update: July 5th, 2024

Updated: Jul 7

Upcoming releases:


  • The next new jobs release is on August 2.

  • The next CPI release is July 11.

  • The next Fed meeting is July 31.


For the week ending 7.5.24 Mortgage rates INCREASED 9bp to 6.95%.

For a $100,000 loan, the monthly payment INCREASED $6.00 and to $662/mo or $0.20/day.


Mortgage rates INCREASED 9bp while the 10-year Treasury rates also DECREASED 1bp for the week ended 7/5/24. Spread increased 10bp to 267bp. With the historical spread being 168 there now exists a “safety cushion” of 0.99bp 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 99bp above the historical norm.

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