Should I float? Should I lock? - Daily Update for Wednesday, May 21, 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 most recent Fed meeting minutes is scheduled to be released today. Though not expecting to make much news, it does has the potential for creating opportunities this afternoon. The big news in the markets and on everyone's mind is the surging price of oil and gasoline. We shall just have to see how all this pans out.

Technically speaking - the FNMA 5.5% 30 year bond rose nicely yesterday towards the looming ceiling that has only been broken thrice in the past 2 years. After dropping this morning, the bond is struggling to get back to the ceiling.

Take advantage of what comes out in today's pricing and

Lock your interest rate.

To learn why one should Float or Lock -

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