Rate Lock Advisory

Thursday, September 21th

Thursday’s bond market has opened in positive territory despite stronger than expected results in this morning’s minor reports. The major stock indexes are showing losses with the Dow down 11 points and the Nasdaq down 42 points. The bond market is currently up 4/32 (2.25%), which should recover part of yesterday’s afternoon increase in mortgage pricing. Many lenders revised rates higher by .125 of a discount point after the FOMC meeting adjourned. If your lender was included in that group, then you should see a slight improvement this morning, leaving rates just a tad higher than Wednesday’s morning pricing.



30 yr - 2.25%







Mortgage Rate Trend

Trailing 90 Days - National Average

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

Indexes Affecting Rate Lock



Weekly Unemployment Claims (every Thursday)

The first was last week’s unemployment figures at 8:30 AM ET that showed only 259,000 new claims for unemployment benefits were filed last week. This was a decline from the previous week’s revised 284,000 initial filings and well off from forecasts that were calling for 310,000 claims. The decline indicates the employment sector was stronger than thought last week. However, the numbers could be skewed by hurricanes Harvey and Irma, preventing much of an impact on today’s mortgage rates.



Leading Economic Indicators (LEI) from the Conference Board

August’s Leading Economic Indicators (LEI) were posted at 10:00 AM ET, revealing a 0.4% increase. This means the indicators are pointing towards moderately stronger economic activity over the next several months. Analysts were expecting to see only a 0.2% rise, making the data slightly negative for bonds and mortgage rates.




Tomorrow has no relevant economic data scheduled for release, leaving stocks to be a major influence on bond trading and mortgage rates movement. There are a couple of Fed member public speaking engagements set that may affect the markets if they bring any surprises. However, none of the topics are expected to bring too much attention. Accordingly, they are not of much concern.

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.