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Mortgage Rates Update: September 28th, 2023

Updated: Oct 6, 2023

For the week ending 9.28.23 Mortgage rates INCREASED 12bp to 7.54%.

For a $100,000 loan the monthly payment INCREASED $8 to $702/mo or $0.27/day.

 

Mortgage rates INCREASED 12bp while the 10 Year Treasury rates INCREASED 10bp for the week ended 9/28/23. The net difference resulted in a 2bp increase in the spread to 295bp. With the historical spread being 168 there now exists a “safety cushion” of 127bp 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 127bp above the historical norm.






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