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.
2 reports came out today as well. Durable Goods came in much worse than expected (New Home Sales will be released about 10).
Technically speaking - the FNMA 5.5% 30 year bond took a really good bounce off the 200 day moving average yesterday. This coupled with the bad news that had occurred may be a sign that rates will be improving.
At this point one could
Float.
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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