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Mortgage Rates Update: November 16th, 2023

For the week ending 11.16.23 Mortgage rates DECREASED 6bp to 7.67%.

For a $100,000 loan the monthly payment DECREASED $4 to $711/mo or $0.14/day.


Mortgage rates DECREASED 6bp while the 10-year Treasury rates DECREASED 17bp for the week ended 11/16/23. The net difference resulted in an 11bp increase in the spread to 322bp. With the historical spread being 168 there now exists a “safety cushion” of 154bp 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 543bp above the historical norm.


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