Should I Float? Should I Lock? - Daily Update for Thursday, August 5, 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.

Jobless Claims for last week came in lower than expected and better than the previous week. Yesterday the Treasure Department announced a new round of bond sales for the next week. This has caused bonds to sink lower on the expected flood of further debt and the unsureness of how investor will respond.

Technically speaking - the FNMA 4.5% 30 year bond has fallen below the 200 day and 50 day moving averages. It is currently heading towards 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