Should I float? Should I lock? - Daily Update for Tuesday, August 3, 2009

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.

The Personal Consumption for last month was slightly higher than June. In comparison to last years numbers consumption was down for the year. Personal Income was also down while personal spending rose slightly. This indicates inflation while still around is somewhat under control.

Technically speaking - the FNMA 4.5% 30 year bond is bouncing up off the 200 day moving average. It is currently levelling off just below overbought 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