Should I float? Should I lock? - Daily Update for Wednesday, February 27, 2008

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.

2 reports came out today as well. Durable Goods came in much worse than expected (New Home Sales will be released about 10).

Technically speaking - the FNMA 5.5% 30 year bond took a really good bounce off the 200 day moving average yesterday. This coupled with the bad news that had occurred may be a sign that rates will be improving.

At this point one could

Float.

Check out Should I float? Should I lock? & Reasons to Float or Lock