Rate Lock Advisory

Monday, October 22th

Monday’s bond market has opened in positive territory with stocks starting the new week in negative ground. The Dow is currently down 83 points while the Nasdaq has lost 10 points. The bond market is currently up 4/32 (3.18%), but weakness during late trading Friday will likely prevent an improvement in this morning’s mortgage pricing.



30 yr - 3.18%







Mortgage Rate Trend

Trailing 90 Days - National Average

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

Indexes Affecting Rate Lock




There is nothing of importance set for release today or tomorrow. The rest of the week brings us the release of four economic reports that may influence mortgage rates in addition to two Treasury auctions that have the potential to do so also. Despite having events scheduled only three days, there is still a decent chance of seeing another active week for mortgage rates. The latter part of the week has a couple of releases that may cause noticeable movement in rates.




Overall, Friday is the best candidate for most important day of the week because of the initial 3rd quarter GDP reading set for release, but Thursday may also be an active day due to the Durable Goods Orders report. The calmest day will probably be tomorrow unless something unexpected happens. We are still in corporate earnings season for the stock markets, so stocks will also play a relevant role in this week’s bond trading and mortgage rates movement.

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.