Brian Stroka, NLMS #1682839

04/04/2025

Loans closing in 15 days can cautiously float, but need to be on guard for when we see momentum change. Right now there is no reason to expect a reversal, but with the gravity of this tariff event (it's being called a once-in-a-century market moving event) when we do see a reversal it will be hard on rate sheets. Until then though, the possibility of seeing rates improve is too good to lock yet.

Loans closing in 15-30 days can float. There is still way too much that has yet to play out for this situation to lock. Mortgage bonds are about 90bps lower than Septembers best levels when we saw the best rates in years, and it isn't a stretch to say that we could see those levels again as early as next week.

Loans closing in 30+ days can float. There is way too much uncertainty in the air to guess where rates will be in a month... but that also means there is no reason yet to consider locking loans that don't close till May or later. We could see rates significantly lower as this plays out over coming weeks, and it is way too early to make any moves on these loans.

03/24/2025

Mortgage Rates-Lock or Float?

Loans closing in 15 days should consider locking, but should start off the day cautiously floating first. If we see signs of mortgage bonds improving through the day, then we can hold back from locking these loans for at least another day. However, if bonds don't improve, and so far they haven't, I would still consider locking. There is still room for mortgage bonds to fall and rate sheets to worsen, so no reason to wait-and-see unless today brings some relief.

Loans closing in 15-30 days can cautiously float, at least for now. Loans that have a few weeks until closing can continue to take more of a 'wait-and-see' approach, since mortgage bonds have already been at these same levels just about a week ago. Unless risk averse, these loans have time to see how March's labor data comes in the first week of April, and could see some improvement. That said, it is unlikely we see rate sheets improve much without a really weak jobs report, so don't hesitate to lock those loans that are happy with rates and don't want to gamble.

Loans closing in 30+ days can cautiously float. There's no reason to worry about locking these loans until we see clear signs that momentum has shifted away from rates staying at these levels. Just ride the ebbs and flows.

03/21/2025

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Brian Stroka-330-323-7460
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03/20/2025

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09/18/2024

This will help many of you…

https://abcnews.go.com/amp/Business/federal-reserve-expected-cut-interest-rates-time-2020/story?id=113751446

"The time has come for policy to adjust," Fed Chair Jerome Powell said last month.

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