Rate Lock Advisory

Friday, September 21th

Friday’s bond market has opened fairly flat as the stressful week for mortgage rates looks to comes to a quiet close. The major stock indexes are showing moderate gains of 52 points in the Dow while the Nasdaq is up 8 points. The bond market is currently up 1/32 (3.06%), but strength in trading late yesterday should be enough to improve this morning’s mortgage rates by approximately .125 of a discount point over Thursday’s early pricing.



30 yr - 3.06%







Mortgage Rate Trend

Trailing 90 Days - National Average

  • 30 Year Fixed
  • 15 Year Fixed
  • 5/1 ARM

Indexes Affecting Rate Lock



Stock Influences

There is no relevant economic data or other mortgage rate-relevant activities scheduled for today. Accordingly, there is no reason to expect an active day for rates. As long as stocks remain near their current levels, bonds and mortgage pricing will likely follow suit.




Next week brings us the release of a handful of economic reports that have the potential to influence mortgage rates in addition to a couple of Treasury auctions. The major event of the week though will be the FOMC meeting and related events that will take place Wednesday. There is nothing of importance scheduled for Monday. Look for details on next week’s calendar in Sunday evening’s weekly preview.

Float / Lock Recommendation

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.