Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
With no economic news reports coming out until Wednesday bonds will be taking a general direction from stocks - currently in a holding pattern.
Technically speaking - the FNMA 5.5% 30 year bond bumped up against the 25 day moving average on Friday and has appeared to back off. Though the bond is oversold, with no apparent support the bond could drift lower possible worsening mortgage rates
With this the recommendation on the short term for interest rates would be to
Lock.
To learn why one should Float or Lock -
Check out Should I float? Should I lock? & Reasons to Float or Lock
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Thanks for the quick tip!
You are welcome!
Hi Matt, just checking on today's advice. I had a customer asking my advice and gave them a clueless look. Now, if I'm wrong it can be your fault!!!!! jk, later in the rain, Deb