Mortgage rates move because of market news and what that does to Bond markets – right now that news is testing the 200 day moving average.
If it breaks that, it could move mortgage rates up a bit today. But because the market moves on data and the next Jobs Report due out next week – I feel you don’t need to lock your rates in today. Rather float them to next week when I think the report will show less new jobs created and that then moves mortgage rates lower.
What are your thoughts – do you float or lock your mortgage rates today?