A 0.25% rate move on $400k is about $68/mo. Know the number before you decide.

Three things behind this week's number, and your move

Tied to this week’s 7.28% forecast (range 7.13–7.43%). Net call for borrowers: Prepare. Last week’s call missed; this week’s grades Thursday. Informational, not advice.

• Oil is the biggest reason rates are near 7% this week
  Oil above $100 is the biggest single thing keeping inflation fears, and your rate, high this week. On $400k, the gap between the top and bottom of our range is about $81 a month.
  Your move: Prepare. Prepare, don't gamble. On a $400k loan the top of the range (7.43%) costs about $52/mo more than Oct 29's 7.24%; the bottom (7.13%) saves about $30/mo (RateScore estimate). That's a small lean, not a signal. If you're under contract, talk lock timing with your loan officer before Tuesday. Wait check · Source
• Midterms Tuesday: bonds care about the deficit, not who wins
  Election results can jolt rates for a few days. A 10–20 bp swing is about $27–$55 a month on $400k (RateScore estimate). If you're close to locking, ask your lender how they'll handle election week.
  Your move: Prepare. Get ready now so you don't have to react later. A 10–20 bp election swing is roughly $27–$55/mo on $400k from the 7.28% forecast (RateScore estimate). Have pay stubs and statements in, and ask your lender how lock timing works around Nov 3. Wait check · Source
• Pulte's fee talk is real. It just isn't this week's rate
  Washington might cut some mortgage fees eventually, but nothing is final. Don't pass on a deal that works today because of a maybe.
  Your move: Prepare. Prepare on today's numbers, not Washington's. Nothing is final, and none of it moves the 7.28% call. Run the wait check on the rate you can get now; a fee cut that might come later isn't a reason to sit out. Wait check · Source

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