For the week ending 3.28.24 Mortgage rates DECREASED 8bp to 6.79%.
For a $100,000 loan the monthly payment DECREASED $5.00 and to $651/mo or $0.18day.
Mortgage rates DECREASED 8bp while the 10 Year Treasury rates DECREASED 7bp for the week ended 3/28/24. The net difference resulted in a 1bp decrease in the spread to 249bp. With the historical spread being 168 there now exists a “safety cushion” of 91bp 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 91bp above historical norm.
