The number that usually pushes rates just ticked up

The 10-year Treasury yield (the interest rate the government pays when it borrows money for 10 years) went up a small notch today. It's at 4.56%. That matters because mortgage rates almost always move in the same direction. When that bond rate goes up, your rate goes up. When it drops, your rate drops. Today it moved up, so today's average rate is 6.5%.

The Fed (the folks who set short-term interest rates to keep the economy stable) meets in about 8 days. Markets hate waiting. Investors often get jumpy right before these meetings, and that nervousness can push rates around in either direction. If you're close to locking, now is the time to talk through the timing with me. I can walk you through what a lock costs, what it protects, and whether waiting makes sense for your situation.

Informational only, not a commitment to lend. Rates subject to change. Equal Housing Lender. Brett Hickman, NMLS 2010859.