For the week ending 11.23.23 Mortgage rates DECREASED 15bp to 7.52%.
For a $100,000 loan the monthly payment DECREASED $11 to $700/mo or $0.34/day
Mortgage rates DECREASED 15bp while the 10 Year Treasury rates INCREASED 2bp for the week ended 11/2323. The net difference resulted in a 17bp increase in the spread to 305bp. With the historical spread being 168 there now exists a “safety cushion” of 137bp 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 137bp above historical norm.
