Should I Float? Should I Lock? - Daily Update for Thursday, August 13, 2009

Should I Float? Should I Lock? - Daily Update for Thursday, August 13, 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.

Jobless Claims rose for last week. Retail Sales came in quite a bit worse than both last month and what was expected. Yesterday's fears were slightly overdone with the Fed reporting they were going to keep interest rate targets steady but start slowing down their purchase of mortgage backed security's. This sent some tremors through the bond markets which ended shrugging the news off

Technically speaking - the FNMA 4.5% 30 year bond broke down through support yesterday but is attempting at regaining a key level now. The bond is currently neither overbought nor oversold.

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