The 10-Year Treasury dropped down to 1.717% at today’s open and stocks are mostly in the red. The banking industry is apparently waiting for the Federal Reserve’s statement this coming Wednesday. Will Mr. Powell remain hawkish or will he give us all a break?

If you are considering refinancing and the rates today work for you, recommendation is to grab it while it is even a little down today, and see what happens Wednesday. If there is a big drop due to the Fed’s statements be ready to grab it because it doesn’t seem like it will last with 4 rate hikes coming from the Fed starting in March.

Overall it seems rates are only going to go up from here so the key is being informed daily as to where rates are moving so you know when to lock your rate. Send a message to us at info@ilovemylender.com asking to be added to the daily rate update so you know how rates are trending every morning.