• Monday’s mortgage rates should be higher than Friday’s early pricing by approximately .125 of a discount point. Many lenders issued intraday improvements to rates Friday afternoon, so if you saw a downward revision Friday, you will likely see a larger increase this morning. market is currently down 7/32 (4.15%).

 • Stocks are reacting to the same events as bonds, pushing the Dow lower by 771 points and the Nasdaq down 234 points.

 • Today is the only day of the week without relevant economic data to influence bond trading.

 • We are seeing the markets react to inflation concerns and oil crossing well above the $100 per barrel threshold this weekend. This topic should be a driving force in the markets for at least the next week or two, possibly longer.

 • The remainder of the week has seven monthly and quarterly economic releases that we will be watching, in addition to a couple of auctions of long-term Treasury securities that may cause an afternoon revision in mortgage pricing midweek.

 • Economic data starts tomorrow with the release of the moderately important Existing Home Sales report at 10:00 AM ET. The National Association of Realtors is expected to announce a small decline in home resales last month. Bad news for rates would be a sizable increase in sales, meaning the housing sector is gaining momentum.

 • Overall, there are several days that could end up being the most active for mortgage rates. Extremely important inflation data makes Wednesday and Friday good candidates, but today’s move in pricing could also make the list.

 • No day appears as an easy pick for calmest either.

 • With so much scheduled this week and geopolitical events in full force, it is highly likely that we will see plenty of movement in the markets and mortgage rates. Unfortunately, the possibility of rates moving higher is much stronger than them moving lower. Accordingly, please proceed extremely cautiously if still floating an interest rate and closing in the near future.

  • 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.