what is the best day of week to lock in mortgage rate?

It really depends, if we knew, we would all be rich on an island somewhere. Fridays are usually not the best day. Talk with your loan officer and have him give you a daily snapshot of the rates and market, once you feel its best position for you, lock it.

Yesterday.

I get rate lock alerts every day. Chris is right about Fridays. If you have any questions, feel free to call. I am in Las Vegas. 702-683-3126 Nathan Kessler City First Mortgage Services NMLS #377217

The day of the week doesn't matter for a rate lock. You should be in touch with your mortgage professional to monitor the movements of the rates on a daily basis and just choose a desired rate and when that rate and pricing is available, the lock should be submitted. In many cases, files are not being processed and/or underwritten by some lenders without the rate being locked in advance, particularly if the debt ratios are close to the maximum limit as a higher rate could jeopardize a loan approval. Good Luck!

Actually there is no day in particular that is better over another. To avoid the possible risk of the rate going higher I always suggest to lock in and that is one less stress to worry about. Of course you have the small risk that rates can go lower, but the better bet is to avoid the risk of them going higher. Talk with a loan officer in your area, most keep watch of the markets and even though there is no way to predict we can look at the data to help determine if now is the right time to lock or not. Best wishes, Sean