• Wednesday’s mortgage rates should be higher by approximately .125 of a discount point if compared to Tuesday’s early pricing.  The bond market is currently down 7/32 (4.65%).

 • Stocks are mixed with the Dow up 177 points and the Nasdaq down 114 points.

 • There is no relevant economic data being released today that has the potential to affect mortgage rates.

 • The recent upward move in yields and mortgage rates comes as no surprise after the ceasefire with Iran crumbled earlier this month. The higher oil and gas prices have reignited inflation concerns that make bonds less appealing to investors, leading to yields and mortgage rates moving higher.

 • If the 1:00 PM ET results announcement points to a strong demand from investors, particularly international buyers, we may see afternoon strength in bonds. This could translate into a slight improvement in rates before the end of the day.

 • Tomorrow’s only economic release is the weekly unemployment update that is expected to show 213,000 new claims for jobless benefits were filed last week. This would be an increase from the previous week’s 208,000 initial filings, signaling the employment sector weakened a bit last week. Good news for rates would be a higher than expected number.

 • While tomorrow’s sole report is just a weekly snapshot that usually carries much less significance than the monthly reports, the fact there is so little on this week’s calendar could draw a stronger response to a surprise than we would normally see.

 • 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.