For the week ending 12/12/24, mortgage rates decreased by 9bp to 6.60%.

For a $100,000 loan, the monthly payment decreased to $639/month or $0.20/day.

Mortgage rates decreased by 9bp, while the 10-Year Treasury rates increased by 15bp for the week ending 12/12/24.

As a result, the spread narrowed by 24bp to 228bp. With the historical spread at 168bp, there is now a “safety cushion” of 60bp above the long-term average.

The historic spread between the 10-Year Treasury and mortgage rates is 168bp (see green line, right axis) and is currently 60bp above the historical norm.

In July, this spread was 150bp. Mortgage rates have decreased more than the 10-Year Treasury rates over this period.

Bill Knudson, Research Analyst LANDCO NEXA