Should I Float? Should I Lock? - Daily Update for Friday, October 23, 2009

Should I Float? Should I Lock? - Daily Update for Friday, October 23, 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.

Existing home sales jumped an incredible 9.4%. This has affected bonds for the worse though the stock market is down for the day as well.

Look for rates this morning to be lower from where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation.

Technically speaking - the FNMA 4.5% 30 year bond stayed above the all important 200 day moving average - though the 200 day is being tested again this morning. The bond is near oversold status.

I am recommending to

LOCK your best mortgage rate. I

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