Rate Lock Advisory

Friday, June 22th

Friday’s bond market has opened in negative territory with stocks in mixed and little else to drive trading. The Dow is currently up 181 points while the Nasdaq has lost 7 points during early trading. The bond market is currently down 4/32 (2.91%), which should keep this morning’s mortgage rates close to Thursday’s early pricing levels.



30 yr - 2.91%







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 nothing scheduled for today that is expected to affect mortgage rates. If there is an intraday move in bonds and mortgage pricing, it likely will be a result of stock movement. Generally speaking, stock strength usually has a negative reaction on bonds and pushes mortgage rates upward. On the other hand, stock selling leads to funds being brought into bonds, causing mortgage rates to move lower. If the major stock indexes remain near current levels, bonds and mortgage rates should follow suit today.




Next week has a handful of relevant economic releases scheduled along with a couple of Treasury auctions that we will be watching. Only two of the releases carry much importance but neither are considered major or key pieces of data. Monday does bring a minor release in May’s New Home Sales report. It tracks strength in the small new home portion of the housing sector. It likely will not cause much movement in mortgage rates. Look for details on next week’s activities 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... Lock 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.