For the week ending 1/9/25, mortgage rates increased by 2bp, reaching 6.93%.
This past week, the monthly payment for a $100,000 loan rose from $659 to $661, an increase of $0.04 per day.
During the same period, 10-Year Treasury rates increased by 11bp, while mortgage spreads decreased by 9bp to 225bp. With the historical spread being 168bp, there is now a “safety cushion” of 57bp above the historical norm.
Bill Knudson, Research Analyst LANDCO NEXA