Overall, Tuesday or Friday will probably be the least active days for mortgage rates with nothing of relevance scheduled in a pretty light week. Look for the stock markets to be the biggest influence on bond trading and mortgage pricing those days. The most important day will likely turn out to be Thursday with the two monthly reports scheduled (in addition to weekly unemployment figures). But, I don’t see rates moving significantly any day unless something unexpected happens in the markets. Accordingly, I am holding the optimistic approach towards floating an interest rate, at least for the time being.
If I were considering financing/refinancing a home, I would….
Float 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…
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bc@smarterborrowing.com 617.771.5021
