Should I float? Should I lock? - Daily Update for Monday, March 31, 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.

The Chicago "Business Barometer was release a little bit ago. It came in higher than expected though still showing the economy being in contraction. Be ready for another wild ride this week.

Technically speaking - the FNMA 5.5% 30 year bond currently above all moving averages. It's caught in a very small trading range. A significant move either way could send prices soaring or plummeting!

As always, things depend on your personal style. Until we break above the current 2 1/2 year ceiling I am recommending to

Lock your interest rate.

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