Rate Lock Advisory

Friday, November 22th

Friday’s bond market has opened up fairly flat despite stronger than expected economic data and early stock gains. The Dow is currently up 92 points while the Nasdaq has gained 7 points. The bond market is currently up 1/32 (1.77%), which should keep this morning’s mortgage rates close to Thursday’s early pricing.



30 yr - 1.77%







Mortgage Rate Trend

Trailing 90 Days - National Average

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

Indexes Affecting Rate Lock



University of Michigan Consumer Sentiment (Rev)

Today’s relevant economic report was November’s revised University of Michigan Index of Consumer Sentiment. It came in at 96.8, up from the preliminary reading two weeks ago and a little higher than forecasts. The higher reading means more surveyed consumers felt better about their own financial situation than did last month. Because rising sentiment usually means consumers are more willing to spend money, we should consider this news slightly negative for mortgage rates.




Next week has a handful of relevant economic reports for the markets to digest, including one that is of elevated importance. All of the data will be posted over two days though due to the shortened holiday week. 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... 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.