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.
Consumer Confidence came in lower than expected - though after Friday's report somewhat expected. Tomorrow, The Fed will more than likely be dropping rates another .25%. Since they are the Fed they will be privy to the reports being released Wed morning of GDP, Inflation and Employment.
Yesterday, bonds improved slightly with continued fear in the market place over concerns of a recession and what the Fed might be doing on Wednesday.
Technically speaking - the FNMA 5.5% 30 year bond rose above the 10 and 50 day moving average. The next target is the 100 day followed by the 25 day moving averages.
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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Get a home equity now!!! I don't really mean that but the Prime rate is getting pretty good again.
Glad I stopped by for another great insight in to the market....now and in the next see days. Will be interesting to watch!