For the week ending April 17, 2025, mortgage rates increased 21bp to 6.83%.
This past week, for a $100,000 loan, the monthly payment rose from $640 to $654—or about $0.46 per day.

For the same week, mortgage rates rose 21bp while the 10-Year Treasury rate decreased by 6bp.
This caused the spread to narrow by 27bp to 249bp. With the historical spread at 168bp, there is now a 81bp “safety cushion” above the long-term average.

The historic spread between the 10-Year Treasury and mortgage rates is 168bp (see green line, right axis), and it currently sits 81bp above the historical norm. In July 2024, this spread was 150bp. Mortgage rates have decreased more than the 10-Year Treasury over time.

Bill Knudson, Research Analyst LANDCO NEXA