Rate Lock Advisory

Friday, January 24th

Friday’s bond market has opened in positive territory, extending the recent positive momentum. Stocks are relatively flat with the Dow down 11 points and the Nasdaq down 1 point. The bond market is currently up 10/32 (1.70%), which should improve this morning’s mortgage rates by another .125 of a discount point.



30 yr - 1.70%







Mortgage Rate Trend

Trailing 90 Days - National Average

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

Indexes Affecting Rate Lock



Stock Influences

Today has nothing scheduled that is relevant to mortgage rates. There is no reason to believe that we will see an intraday revision to rates unless the major stock indexes make a big move lower. In other words, don’t be surprised to see a fairly quiet end of the week for bonds and mortgage pricing.




Next week is much busier than this week was though. It has something for us to watch every day, starting with a minor housing report Monday morning. The scheduled events range from low importance to highly important. We will get housing, manufacturing and consumer spending data along with the initial GDP reading for the 4th quarter, a couple of Treasury auctions and a FOMC meeting. Look for details on all of 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... Float 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.

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