Daily Rate Lock Advisory

Mortgage Rate Trend

Trailing 90 Days - National Average

30 Year Fixed

15 Year Fixed

5/1 ARM

National Average

3/20/2025

30 Year Fixed: 6.67%

15 Year Fixed: 5.83%

5/1 ARM: 0%

Indexes Affecting Rate Lock

High

Unknown

None

There is no relevant economic data set for release today. We are seeing an extension of overnight gains carry into this morning’s early session. The remainder of the week brings us the release of five monthly economic reports, including the traditional new month reports that carry a high level of importance. One of those major reports comes tomorrow and the other Friday morning. Today is the only day without at least one piece of data scheduled to be posted.

High

Unknown

ISM Index (Institute for Supply Management)

Activities begin tomorrow at 10:00 AM ET when the Institute for Supply Management (ISM) releases their March manufacturing index. This index surveys manufacturing executive sentiment on business conditions and can have a noticeable impact on the financial and mortgage markets if it varies much from forecasts. Analysts are expecting it to decline from February’s 50.3, falling below the important 50.0 threshold that is considered to be contraction in the sector. A reading that remains above 50.0 will be unfavorable for bonds and mortgage rates. The lower the number, the better the news for tomorrow’s rates.

Medium

Unknown

Fed Talk

In addition to this week’s economic data, there is also another batch of Fed-member speaking engagements scheduled. There are a few that have topics related to economic growth and/or monetary policy that will draw plenty of attention from the markets. One of them is with Fed Chairman Powell Friday morning. The most important ones appear to be happening later in the week, but they begin tomorrow and can have an impact on the markets if any of them reveal surprising info about the economy or potential Fed action.

High

Unknown

Employment Situation

Overall, we likely will see the most movement in rates Friday due to the importance of the monthly governmental Employment report, but tomorrow’s ISM release also has the potential to be a market mover. No day stands out as a good candidate for calmest in terms of possible changes in mortgage pricing. This could be another active week for the markets, so proceed cautiously if you are still floating an interest rate and closing in the near future.

Rate Lock Advisory

Mortgage Rate Trend

Indexes Affecting Rate Lock

None

ISM Index (Institute for Supply Management)

Fed Talk

Employment Situation

Float / Lock Recommendation

Complaints