Rate Lock Advisory

Friday, September 25th

Friday’s bond market has opened in positive territory following favorable economic news. Stocks are mixed with the Dow down 75 points and the Nasdaq up 12 points. The bond market is currently up 4/32 (0.65%), which should improve this morning’s mortgage rates approximately .125 - .250 of a discount point if comparing to Thursday’s morning pricing.



30 yr - 0.65%







Mortgage Rate Trend

Trailing 90 Days - National Average

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

Indexes Affecting Rate Lock



Durable Goods Orders

August's Durable Goods Orders report was posted at 8:30 AM ET this morning, revealing a 0.4% rise in new orders at U.S. factories for big-ticket products such airplanes, appliances and electronics. This was well below expectations of a 1.2% increase, indicating the manufacturing sector was not as strong as thought last month. Even a secondary reading that excludes orders for more costly and volatile airplanes and related items fell short of forecasts. This data is known to have large swings, so the size of the variance isn’t as much of an issue as it would be in other reports. Still, we can consider the report good news for bonds and mortgage rates.




Next week has plenty scheduled that is expected to influence mortgage rates, some of it more than others. The week starts off light and gets more active as it progresses. Monday has nothing of importance scheduled while Tuesday has a moderately important release. Wednesday, Thursday and Friday are extremely busy, including the release of two highly important economic reports. We also have several Fed speaking engagements to watch that may come into play. Throw in the first Presidential debate of the election and we have the makings for a very interesting 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.

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