Should I float? Should I lock? - Daily Update for Tuesday, August 11, 2009

Should I Float? Should I Lock? - Daily Update for Tuesday, August 11, 2009

Here are the daily thoughts on interest rate 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.

Productivity came out this morning bounding up to 6.4% - quite a bit more than expectations or last months numbers. This coupled with an apparent flat opening to the stock market is causing bonds to rise nicely in another attempt to regain the 200 day moving average.

Technically speaking - the FNMA 4.5% 30 year bond bounced off a key support level and making a run at the 200 day moving average. It is currently coming nicely off of oversold status.

I am recommending to

LOCK your best mortgage rate.

To learn why one should Float or Lock -

Check out Should I float? Should I lock? & Reasons to Float or Lock

To obtain rates and fees with a $500 guarantee - come visit