Rate Lock Advisory

Monday, August 19th

Monday’s bond market has opened in negative territory as stocks start the new week with strong gains. The Dow is currently up 251 points while the Nasdaq has gained 99 points. The bond market is currently down 13/32 (1.60%), but strength late Friday should keep this morning’s mortgage rates nearly unchanged. If you saw an intraday downward revision Friday afternoon, you likely will see a similar sized increase this morning.



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



Stock Influences

There is nothing of importance scheduled for today or tomorrow. The rest of the week brings us the release of only three pieces of economic data that may influence mortgage rates in addition to the minutes from the last FOMC meeting and the annual Jackson Hole Fed conference. Until we get to the little data that is on the calendar, expect stocks to have a heavy influence on bond trading and mortgage rates.




Overall, Wednesday or Friday are the best candidates for most active day for rates while tomorrow could be the calmest day unless something unexpected happens. We will get the week’s most important report Wednesday, albeit not a highly important release, along with the minutes from last month’s FOMC meeting. Friday morning has Fed Chairman Powell’s speech at the Jackson Hole Fed conference. However, any day can become volatile with news from any of the hot topic issues currently driving the markets. Therefore, please proceed cautiously if still floating an interest rate and closing in the near future.

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.