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.

Industrial Capacity and Utilization came in near analyst expectations. While not necessarily either good or bad, it certainly favors Paulson's and Bernanke's conclusion that the economy will not slip into a recession and puts Greenspan's pronouncement that a recession is better than 50/50 in a bad light.

Technically speaking - the FNMA 5.5% 30 year bond is still below the 50 day moving average. Unless the stock market takes a hit today expect bonds to continue to drift lower.

With this, the recommendation remains on all programs to

Lock.

Check out Should I float? Should I lock? & Reasons to Float or Lock