Matthew Rosov, Certified Mortgage Planning Specialist

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.

Personal Income dropped by .7% and Personal Spending increase by .2%. Personal Consumption stayed at analyst expectations of .3%. Yesterday the sale of 5 year Treasury bonds went well as did the sale of 2 year Treasury bonds the day before. All of this has assisted bonds to overcome overbought conditions and some tough resistance levels. The other big report for today is the Chicago Business Barometer coming in way above expectations. Finally Consumer Sentiment came in slightly higher than expected.

Technically speaking - the FNMA 6.0% 30 year bond broke through the 100 day moving average yesterday with the great sale of 5 year Treasury Notes. Bonds are in extreme overbought range and with the 200 day moving average in shouting distance ( a very tough nut to crack), look for a sell off in bonds to occur in the next few days.

I am recommending to take advantage of improved rates and

LOCK your mortgage rate.

To learn why one should Float or Lock -

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

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.

Gross Domestic Product (GDP) was reported this morning as being quite a bit higher than original expected. Jobless Claims fell from last month but came in where analysts had expected. This boost in GDP is currently being credited to the economic stimulus checks that came out.

Technically speaking - the FNMA 6.0% 30 year bond continued its mini rally yesterday rising up to the 100 day moving average. This mornings news will be prompting a sell off of bonds as investors look to move money from bonds to stocks. Bonds being in an overbought status will help this trend.

I am recommending to take advantage of improved rates and

LOCK your mortgage rate.

To learn why one should Float or Lock -

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

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.

Durable Goods came in at the same rate as last month but quite a bit higher than analyst expections. This could be resulting from analysts not knowing when the $600 - $1200 tax rebate ended - or something else.

Technically speaking - the FNMA 6.0% 30 year bond continued its mini rally yesterday. Bonds are in an overbought status - look for this to bring some cooling off to yesterday's rally.

I am recommending to take advantage of improving rates and

LOCK your mortgage rate.

To learn why one should Float or Lock -

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

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.

Existing Home Sales were slightly improved yesterday. Today New Home Sales, Consumer Confidence and the Fed Meeting minutes will be released. The slight lift in yesterday's report may signal a slight improvement in New Home Sales. If you are to believe the media, Consumer Confidence will be reaching new lows - rather contrary to what the pundits believe. With stocks looking to take a bounce from yesterday's selloff, look for bonds to weaken today.

Technically speaking - the FNMA 6.0% 30 year bond has bounced off the 50 day moving average and is heading up. Bonds are in an overbought status - look for this to bring some cooling off to yesterday's rally.

I am recommending to take advantage of improving rates and

LOCK your mortgage rate.

To learn why one should Float or Lock -

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

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.

Other than existing home sales due out at 10 AM, there will be no major economic reports due out till tomorrow afternoon when the minutes from the most recent Fed meeting will be released. This morning rates appear to be improving on continued fear of a failing economy and oil taking another uptick.

Technically speaking - the FNMA 6.0% 30 year bond has bounced off the 50 day moving average and is heading up. Though bonds are approaching overbought status, this rally appears to have some legs.

I am recommending to take advantage of improving rates and

LOCK your mortgage rate.

To learn why one should Float or Lock -

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