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.
A whole slew of reports this morning. Personal Income and Spending both came in higher. A key inflation report showed an increase of 0.3% on a monthly basis and an increase of the Year to Year inflation. Both of these could cause the Fed to give pause at their next meeting 2 weeks hence. Lastly. a major report indicating business opinions on the state of the economy is showing weakness
Technically speaking - the FNMA 5.5% 30 year bond has popped above the 25 day and 50 day moving average. Holding above this level will be a good thing. If by the end of the day, the bond closes lower - this could indicate the brief improvement in mortgage rates to have stopped.
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
Education in the Mortgage Planning process help folk understand how to turn their "biggest debt" into their greatest asset! Have me show you how to accomplish this.
Should I float? Should I lock? - Daily Update for Friday, July 11, 2008
Should I float? Should I lock? - Daily Update for Thursday, July 10, 2008
Should I float? Should I lock? - Daily Update for Wednesday, July 9, 2008
Should I float? Should I lock? - Daily Update for Tuesday, July 8, 2008
Should I float? Should I lock? - Daily Update for Monday, July 7, 2008
Should I float? Should I lock? - Daily Update for Thursday, July 3, 2008
Should I float? Should I lock? - Daily Update for Wednesday, July 2, 2008
Should I float? Should I lock? - Daily Update for Tuesday, July 1, 2008
Should I float? Should I lock? - Daily Update for Monday, June 30, 2008
Should I float? Should I lock? - Daily Update for Friday, June 27, 2008
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I keep hearing the Feds are going to lower their rates again....it will be interesting to see!
Hi Matthew... You commented on my first blog in AR, and I may have come across defensively. If so, I apologize. Since then, I have read your posts on several occasions, and sincerely appreciate your insight. I have also used your group-site information to help guide me to other groups around AR that provide me with valuable educational posts as well. Thank you!