Monday’s bond market has opened well in negative ground following early stock gains. The stock markets are showing early strength with the Dow up 97 points and the Nasdaq up 27 points. This pushes the Dow above the important 10,000 benchmark level yet again, but its ability to hold that level has come up short during recent trading. It appears that until that level can hold, many analysts will remain skeptical of the recent stock rally. However, as stocks rise this morning, bonds are falling. The bond market is currently down 24/32, which will likely push this morning’s mortgage rates...
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...
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