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Mortgage Rates Update: October 5th, 2023

For the week ending 10.5.23 Mortgage rates INCREASED 18bp to 7.72%.

For a $100,000 loan the monthly payment INCREASED $12 to $714/mo or $0.41/day.


Mortgage rates INCREASED 18bp while the 10 Year Treasury rates INCREASED 15bp for the week ended 10/5/23. The net difference resulted in a 5bp increase in the spread to 300bp. With the historical spread being 168 there now exists a “safety cushion” of 132bp 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 132bp above the historical norm.


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