Upcoming releases:
The next new jobs report will be released on October 4. The most recent was released on September 6 (increased from 114,000 to 142,000 a moderate amount. Unemployment rate slightly decreased from 4.3% to 4.2%)
The next CPI will be released on October 10. The most recent was released September 11 (decreased from 2.9% to 2.5% as the large Aug 2023 data fell out of the CPI annual 12-month rolling calc)
Next Fed meeting is November 7. On Sept 18 Fed Funds decreased 50bp.
For the week ending 9.19.24 Mortgage rates DECREASED 11bp to 6.09%.
For a $100,000 loan the monthly payment decreased to $605/mo or $0.24/day.
Mortgages decreased while the 10-year Treasury rates INCREASED 5bp for the week ended 9/19/24. Spread decreased 16bp to 236bp. With the historical spread being 168 there now exists a “safety cushion” of 68bp 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 68bp above the historical norm.
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