Daily Rates

Rate Lock Advisory

Monday, May 17th

Monday’s bond market has opened flat with little to drive trading this morning. Stocks are starting the week in negative ground, pushing the Dow down 81 points and the Nasdaq down 56 points. The bond market is currently down 1/32 (1.63%), which should keep this morning’s mortgage rates nearly unchanged from Friday’s early levels.



30 yr – 1.63%







Mortgage Rate Trend

Trailing 90 Days – National Average

Indexes Affecting Rate Lock


There is nothing of importance scheduled for today with exception to a couple of Fed member speaking engagements that may draw some attention. The rest of the week brings us only three relevant monthly economic reports, in addition to a Treasury auction and the release of FOMC meeting minutes. None of the economic reports are considered to be highly important or potential market movers.

Housing Starts (New Residential Construction)

Activities begin tomorrow when April’s Housing Starts report is released at 8:30 AM ET. This data gives us an indication of housing sector strength and future mortgage credit demand by tracking newly issued permits and actual starts of new home construction. It is expected to show a small decline in new construction starts, hinting at weakness in the new home portion of the housing sector. This report is normally not considered to be of high importance to the bond market, meaning it likely will have little impact on mortgage rates regardless of what is reveals.


Overall, no day stands out as the most important for rates this week. We can expect to see minor moves most days unless something unexpected happens. The calmest day may end up being today or tomorrow. While there is a good chance of seeing rates stay fairly flat, it would be prudent to keep an eye on the markets this week if still floating an interest rate, just in case that changes.

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.

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