For the week ending April 24, 2025, mortgage rates decreased 2bp to 6.81%.
This past week, for a $100,000 loan, the monthly payment decreased from $654/mo to $653/mo, or about $0.04 per day.
For the week ending April 24, 2025, mortgage rates decreased 2bp while the 10-Year Treasury rate also decreased 2bp.
The spread remained at 249bp. With the historical spread being 168bp, there now exists a “safety cushion” of 81bp above the historical spread.
The historic spread between the 10-Year Treasury and mortgage rates is 168bp (see green line, right axis), and it is currently 81bp above the historical norm.
In July 2024, this spread was 150bp. Mortgage rates have decreased more than the 10-Year Treasury.
Bill Knudson, Research Analyst LANDCO NEXA