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Should I float? Should I lock? - Daily Update for Thursday, February 28, 2008Here 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. More good news (at least from a rate perspective). Gross Domestic Product came in lower than expected (good) & Jobless claims came in higher than expected (good). Both sets of data support the idea of a downturn of the economy. Technically speaking - the FNMA 5.5% 30 year bond has broken through the 100 day moving average with a vengeance. If it stays above this mark, then rates will be gaining some of the ground it has lost over the past couple weeks. At this point one could
To learn why one should Float or Lock - Check out Should I float? Should I lock? & Reasons to Float or Lock |
Author
Matthew Rosov, Certified Mortgage Planning Specialist Envision Lending Group Laurel, MD Office Phone: (301) 536-2875 Cell Phone: (301) 536-2875 More information... Contact Matthew Rosov, Certified Mortgage Planning Specialist |
Float.