Consumer Sentiment was slightly higher than expected this morning.  Combined with higher than expected consumer spending in the Incomes and Outlays report, the market is getting some reassurance of a stronger than expected consumer spending trend in the holiday season.

As a result, stocks are up this morning and bond prices are down, moving yields and mortgage rates higher yet again.  This, on top of the fairly sizable losses from yesterday afternoon.  Depending on whether or not your lender repriced yesterday, you could see anywhere from a 0 to  .375% increase in discount cost.


LOCK COMMENTARY:    Though rates have gotten worse in the last 2 sessions, locking is the safe bet.  The reason is volatility and lack of market news in the upcoming days.  There will be decreased volume on the street which means that the investors that are making big trades will have a much bigger impact on the market.  With limited economic data, stocks will play a key role in determining bond prices, and if the positive feelings remain and gain momentum, there's potential for greatly increasing bond prices.  I would still float for in the longer term.