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Overall, I expect to see the most movement in rates either Tuesday or Friday. Friday is the most important day of the week with the employment numbers and ISM index being released, but we will likely see a fair amount of movement in rates Tuesday also. I am expecting tomorrow or Wednesday to be the calmest day of the week, but we should still see some changes to rates those days. In general, it will probably be a pretty active week for mortgage pricing. Accordingly, it would be prudent to maintain contact with your mortgage professional if still floating an interest rate.

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…

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