Hebrews 8:13

In that he saith a new covenant
In the above prophecy, ( Hebrews 8:8 )

he hath made the first old;
this naturally follows from hence; if the second is new, the first must be old; which is called so, not on account of its date and duration; for the covenant of grace itself is older than this mode of administration of it, and the manifestation of that to the patriarchs was before this covenant, and so was the covenant of works before it; but on the account of its faultiness and deficiency, its weakness, and unprofitableness, and especially its being antiquated, and made to give way to another.

Now that which decayeth and waxeth old is ready to vanish away;
the apostle argues from the first covenant, being old, to its being near to dissolution, or a disappearance; and the dissolution or disappearance of this covenant was gradual; it began when the Chaldeans seized the land of Canaan; and the ark, an eminent type of Christ, being wanting in the second temple, gave a hint of its waxing old; and both the civil and ecclesiastical government of the Jews were in great confusion under the second temple, at least towards the close of it; and even before the times of Christ, John the Baptist came, and proclaimed the near approach of the Messiah, and his kingdom: this covenant was of right abolished at the time of Christ's death; upon his ascension the Spirit was given, and the Gospel published among all nations, by which it more and more disappeared; and in fact it quite vanished away, when the city and temple of Jerusalem were destroyed, which was in a little time after the writing of this epistle; so that the apostle, with great propriety, says, it is "ready to vanish away".