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.
Good (Bad) News of the day - Durable Goods Orders were down 3/10% as opposed to the expected 1/10% rise. The Bad (Good) News of the day - Jobless Claims fell 30,000 jobs. It appears the markets are putting more credence into the 2nd bit of news. The bond market has been open less than 1.5 hours and we are already down 50 bps.
Technically speaking - the FNMA 5.5% 30 year bond has fallen below the 50 day and 100 day moving averages. If nothing good comes up today, rates could rise accordingly.
Today is another great day to
Lock your interest rate.
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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Matthew, you are my go to guy to float or lock! I noticed by the way you always have a different picture for your locks....that takes some effort....A+ :)