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.
Jobless Claims came in lower than expected this morning. The is not setting up a good precedent for Payrolls or Unemployment number for tomorrow.
Technically speaking - the FNMA 5.5% 30 year bond sank below the 200 day moving averages yesterday. This morning the bond sank almost 50 bps before rebounding back up to the 200 day mark. If the bond cannot stay above this mark, look for rates to get alot worse.
The best bet in these troubled times is continue 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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Matt, Once again really good advice.. We really have to watch the bond market. I guess great names think a like