Frankln Home Listings

This mornings bond market opens down 8/32 which is expected to push mortgage rates higher aproximately .125 to .250 higher than Wednesday's revised rates. For the buyer this should translate to a rise of .500 of a discount point Wednesday morning's rates.

With forth the quarter GDP report due out tomorrow most analysts are expecting a significant drop of 5.4% which will be the largest drop in 26 years.

So here's the botttom line: For buyers expecting to close a loan within the next 7 days it may be wise to go ahead and lock your rate. if you are planning to close a loan more the 8 days out consider floating the rate.