Should I Float? Should I Lock? - Daily Update for Monday, August 10, 2009

Should I Float? Should I Lock? - Daily Update for Friday, August 7, 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.

Little scheduled reports early this week. The next "big" report will be the Fed meeting which will conclude on Wednesday. This followed by a spate of reports at weekends will make for another roller coaster ride. So far this morning stocks have pulled back slightly causing bonds to rise in an attempt to overcome an important ceiling.

Technically speaking - the FNMA 4.5% 30 year bond has fallen below the 200 day and 50 day moving averages. It is currently attempting a bounce off of 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