Should I Float? Should I Lock? - Daily Update for Wednesday, August 12, 2009

Should I Float? Should I Lock? - Daily Update for Wednesday, August 12, 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.

The Trade Deficit grew compared to last month but was slightly better than expectations. The big news of the day will be coming out around 2 PM when the Federal Reserve announces what they will be doing with the target interest rate - both today and in the near future. Also, an auction for 10 year Notes will be occurring today at 1 PM.

Technically speaking - the FNMA 4.5% 30 year bond has come back down to support levels and is rising off the oversold state.

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