When is the best day of the week to lock your interest rates mortgage, friday or monday?

I prefer Friday, due to uncertainty over the weekend.

Mortgage rates are not like fuel prices... there is no best day to lock your interest rate. Speak with your mortgage professional about the key economic reports for any specific week and the technicals of where the mortgage bond market is on any given day in order to determine the best day(s) for you to lock your interest rate. Happy New Year!

The best day to lock your rate is when you are happy with the current market and don't want to risk it increasing on you! (and then don't look back--- rates may go up or they may go down after that-- just remember that you were happy with it when you locked!) Leave the gambling for those that can stomach it at the casino!I'm happy to help with the financing or just give you advice. So if you need more information, or a competing rate quote call, email or use my live support button to discuss or get in touch with me. Web Address is: http://www.loansfromrob.com/quote/ Email is rhanson@gladewaternational.com and direct phone is 240-752-7549. Good Luck -- Rob Hanson

There is no "best" day to lock a rate - just when rates are where you want them for the current market.

There is no particular day that is generally better than others, rates are subject to change based on what is going on in the financial markets. Trying to project what rates will do is very risky - and someone who is good at it can make a lot more money trading securities than as a mortgag banker...! We offer a 1x free float down - so I usually encourage a borrower to lock as soon as they are comfortable.

There's no crying in baseball or in Rate Locking. The time to lock is when you are happy with the rate available at that time. Locking a rate is a double edged sword. You protect yourself from rate rises but it denies you the ability to take advantage of a reduction. If you want to wait for the lowest possible rate, you will never lock, because tomorrow could be lower. Here is what I recommend to my customers: Because everyone's crystal ball is real fuzzy, take a look at what your rate and payment would be if you locked right now. If you are happy with that, then lock and don't look back. Very few people actually locked at the lowest possible rate because NO ONE knows what tomorrow's rate will be. More importantly, ask yourself this question. If you wait until tomorrow and rates are 0.50% higher, was it worth the risk because they MIGHT have been 0.125% lower. The answer is an emphatic NO.~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Lots of good advise here, and I can tell you from experience, that even industry professionals struggle with this question.. Rates are primarily driven by market conditions.. Market conditions are driven by economic, political, and catastrophic events.. Economic events usually have a calendar, so it's not so hard to predict what days would be stable or volatile, but political and catastrophic events cannot be predicted.. so when is the best time to lock.. The advise here has been consistent.. you lock when your happy with what you have.. If your not happy with what is currently being offered, and you decide to hold off on locking, you run the risk, along with the reward, that rates could improve or decline.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com