Rate Lock Advisory

Monday, April 19th

Monday’s bond market has opened in negative territory, extending Friday’s late weakness. Stocks are also starting the week in negative ground with the Dow down 185 points and the Nasdaq down 105 points. The bond market is currently down 4/32 (1.60%), which with Friday’s afternoon weakness should push this morning’s mortgage rates higher by approximately .250 of a discount point if comparing to Friday’s early pricing.



30 yr - 1.60%







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 scheduled for today or tomorrow. The remainder of the week has only three monthly economic reports that we need to watch, in addition to a Treasury auction and potential stock influences. None of the reports are considered to be highly important or key releases.



Stock Influences

Also worth noting is the fact that we are in earnings season this week, where publicly traded companies post their quarterly earnings and forward guidance. These releases generally have more of an impact on stock trading than bonds or mortgage pricing. That said, stock selling fueled by earnings disappointment can cause funds to shift into bonds for safety and lead to lower mortgage pricing.




Overall, no day stands out as the most important for rates. We can’t label one based on relevance of data since none of this week’s releases are expected to be a market mover. The calmest day may be tomorrow, but rates should remain fairly calm most of the week unless something unexpected happens.

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.

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