•Tuesday’s mortgage rates should be approximately .125 - .250 of a discount point higher than Monday’s early pricing. The bond market is currently down 3/32 (3.21%).

•Stocks are mixed with the Dow up 183 points and the Nasdaq down 4 points.

•Yesterday’s 5-year Treasury Note auction drew a weak interest from investors, helping to contribute to afternoon losses in bonds. It wasn’t enough of a move to fuel widespread upward rate revisions but did carry into this morning’s pricing.

•The Conference Board posted their Consumer Confidence Index (CCI) for June at 10:00 AM ET this morning. They announced a reading of 98.7 that fell short of expectations and was a noticeable decline from May’s revised 103.2. The lower reading indicates surveyed consumers felt worse about their own financial situations this month than they did last month.

•The lackluster demand in yesterday’s Treasury auction prevents us from being too optimistic about today’s 7-year Note sale. Results of it will be posted at 1:00 PM ET. If they show another weak sale, we may see a slight increase to mortgage pricing this afternoon.

•We have two events that we will be watching tomorrow for a possible impact on mortgage rates. The day will start with the second revision to the 1st Quarter Gross Domestic Product (GDP) reading at 8:30 AM ET. This particular data is quite aged now (covers January through March) and will likely have little influence on the bond market or mortgage pricing unless it varies greatly from previous readings. Tomorrow's update is expected to show a 1.5% annual rate of contraction in the economy. A large upward revision in the GDP would be considered negative for rates.

•Also tomorrow morning is a speaking engagement by Fed Chairman Powell. He will be speaking at a European Central Bank forum in Portugal. The event is titled Economic Policy Discussion, meaning we could get a reaction in the markets. He is expected to speak at 9:00 AM ET, making this a morning event for rates.

•Visit our Daily Commentary page on our site for detailed explanations on current news that is relevant to mortgage rates.

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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.