Short term trend for Jumbo Mortgages

[iacrenter]

I have friend looking into locking a Jumbo motrtgage soon. There was a sudden spike in rates 1 week ago after the Fed meeting.  I know it is impossible to predict the future but is it better to lock in now or wait longer?  The bond market seems to be in flux now.

 

[usctrojancpa]

I have friend looking into locking a Jumbo motrtgage soon. There was a sudden spike in rates 1 week ago after the Fed meeting.  I know it is impossible to predict the future but is it better to lock in now or wait longer?  The bond market seems to be in flux now.

Is your friend under contracts for a home that he/she will buy within 30 days?  If so, they might want to lock because they can always refi later on if rates drop again.