Should I float? Should I lock? - Daily Update for Monday, April 28, 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.

Consumer Confidence is on tap for tomorrow. Wednesday, The Fed will more than likely be dropping rates again on Wednesday. Since they are the Fed they will be privy to the reports being released Wed morning of GDP, Inflation and Employment.

Today bonds will be taking direction from stock as well as doing some guess work of their own on what Bernanke and Company will do tomorrow.

Technically speaking - the FNMA 5.5% 30 year bond is below all moving average with the exception of the 200 day - about a 100 bps below current levels (a lot of room to fall). With the other moving averages moving to a confluence we will be needing some really key things to happen for rates to start falling again.

Today is another great day to

Lock your interest rate.

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