Upcoming releases:
The next new jobs report will be released on October 4.
The next CPI will be released on October 10.
Next Fed meeting is November 7.
For the week ending 9.26.24 Mortgage rates DECREASED 1bp to 6.08%.
For a $100,000 loan, the monthly payment decreased to $605/mo or $0.02/day.
Mortgages decreased while the 10-year Treasury rates INCREASED 6bp for the week ended 9/26/24. Spread decreased 7bp to 229bp. With the historical spread being 168, a “safety cushion” of 61bp is now 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 61bp above the historical norm.
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