For the week ending 1/16/25, mortgage rates increased 11bp to 7.04%.

This past week, for a $100,000 loan, the monthly payment rose from $661/mo to $668/mo, an increase of $0.25 per day.

For the week ending 1/16/25, mortgage rates increased 11bp, while the 10-Year Treasury rate decreased 7bp. The spread widened by 18bp to 243bp. With the historical spread at 168bp, there is now a “safety cushion” of 75bp above the historical average.

The historic spread between the 10-Year Treasury and mortgage rates is 168bp (see green line, right axis) and is currently 75bp above the historical norm.

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

Bill Knudson, Research Analyst LANDCO NEXA