Rates Holding in New Range

One word - volatility. Regardless we are still trading within the new range. With that said we started today's trading day off with a sell off before bouncing back to the high side of our range. This is an important distinction that needs to be made because opening rate sheets will have priced in these losses. It makes sense to wait for afternoon rate sheets which will offer better pricing reflecting these recent gains. If you're looking to lock a loan - I'd wait about 4 hours... maybe sooner. New rate sheets will most likely be published moving into the afternoon. Depending on where the headquarters of the lender is located, afternoon is a relative term. Reprices from various lenders will begin to be offered around 10 am Pacific Standard and should continue throughout the day or until the market makes a downward correction.


This downward correction could happen very quickly... See the downward trend on the ten year treasury... should the treasury yield rise (3.5 is a primary marker), our market, will suffer... think of an iceberg breaking off a glacier and falling into the ocean. It can be that quick.