Rate Lock Advisory

Friday, February 23th

Friday’s bond market has opened in positive territory even though there is very little news to drive trading. Stocks are showing early gains with the Dow up 157 points and the Nasdaq up 36 points. The bond market is currently up 8/32 (4.29%), which should improve this morning’s mortgage rates by approximately .125 - .250 of a discount point.



30 yr - 4.29%







Mortgage Rate Trend

Trailing 90 Days - National Average

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

Indexes Affecting Rate Lock




There is nothing scheduled today that is expected to influence bond trading or mortgage pricing. We should see a fairly calm day for rates, assuming something unexpected doesn’t happen. Today’s early stock strength doesn’t seem to be having an impact on bonds, so we shouldn’t need to be concerned if stocks extend their morning gains.



New Home Sales

Next week has at least one relevant economic report scheduled for release each day, including Monday (January’s New Home Sales in addition to a Treasury auction). The reports gain importance as the week progresses, meaning we should see the strongest moves in rates the middle or latter days. The batch of reports include the Fed’s preferred inflation reading and the ISM manufacturing index, along with others. Since the first Friday of the month falls on the 1st, the monthly Employment report rolls to the following Friday. Look for details on all of 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... 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.

Frangadakis Corp