For the week ending 3.14.24 Mortgage rates DECREASED 14bp to 6.74%.
For a $100,000 loan, the monthly payment DECREASED by $9.00 to $657/mo or $0.31/day.
Mortgage rates DECREASED 14bp while the 10-year Treasury rates INCREASED 20bp for the week ended 3/14/24. The net difference resulted in a 34bp decrease in the spread to 245bp. With the historical spread being 168 there now exists a “safety cushion” of 77bp 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 77bp above the historical norm.
