Monthy Statistical update November 2023

In the November 2023 MSU, we cover:
ARM rates, which remain useless to buyers seeking to increase their borrowing capacity beyond the amount allowed with an FRM;
FRM rates, which continued to rise in October 2023, with the average 30-year FRM exceeding 7.6%; and
the generous rate spread between the 10-year Treasury Note and FRMs, demonstrating lenders anticipate rates will continue to rise - and mortgage defaults will increase.