For the week ending 7.3.25 Mortgage rates decreased 10bp from 6.77% to 6.67%.
This past week, for a $100,000 loan the monthly payment decreased $7 at $643/mo.
For the week ending 7.3.25 mortgages decreased 10bp while the 10 Year Treasury rates increased 9bp.
Spread decreased to 232bp. With the historical spread being 168 there now exists a “safety cushion” of 64bp above the historical spread. This cushion has been narrowing.
The historic spread between the 10 Year Treasury and mortgage rates is 168pb (see green line, right axis) and currently is 64bp above historical norm. In July 2024 this spread was 150bp. Mortgage rates have decreased more than the 10 year.
Bill Knudson, Research Analyst LANDCO NEXA