As I have said many times before, some of the biggest drivers of interest rates are geo-political events. While economic data, especially key points like the CPI and jobs numbers along with a few others can be big influencing factors for interest rates, big events like England leaving the EU cause enough consternation to get investors to move money from more speculative investments like stocks and commodities to safe-haven investments like bonds. To make matters even better for mortgage borrowers who are looking to lock, the fact that yields are extremely low (and even negative in a few parts of the world) around the rest of the globe, our bonds are the most attractive of all bonds and the more money flows into our bonds, the lower the rates go.
We have a fair amount of semi-important economic data this week ahead of jobs week next week (and my birthday on Tuesday) but I think the focus is going to be on Europe. Another thing to consider from a technical standpoint is that even with the two huge up days of Friday and today, the Relative Strength Index has yet to cross the overbought threshold. It's knocking on the door but it isn't there yet. If you decide to continue to float, I would pay special attention to my app - buyerZapp , you can download it by clicking on the link in the upper right hand corner - so that if rates begin to move against you, you can act quickly to lock. I'm always available and happy to help in any way I can so feel free to contact me. If you have mortgage insurance on your loan, you may want to see if refinancing makes sense with how low rates are right now. Contact me at 702-812-1214 or 801-893-1737. Make it a great day and a better week.