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Mortgage Rates Update: October 12th, 2023

For the week ending 10.12.23 Mortgage rates INCREASED 8bp to 7.80%.

For a $100,000 loan the monthly payment INCREASED $6 to $720/mo or $0.18/day.


Mortgage rates INCREASED 8bp while the 10-year Treasury rates DECREASED 2bp for the week ended 10/12/23. The net difference resulted in a 5bp increase in the spread to 310bp. With the historical spread being 168 there now exists a “safety cushion” of 142bp above the historical spread.


The historic spread between the 10-year Treasury and mortgage rates is 168bp (see green line, right axis) and currently is 142bp above the historical norm.


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