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.

The news released yesterday shouldn't have resulted in the downturn of the bond. It's more suspected that profit taking occurred especially with bonds being overbought. Fed chief, Ben Bernanke, will be giving a speech on financial stability, which will cause bonds to react - just depends on what the traders think they hear.

Technically speaking - the FNMA 6.0% 30 year bond has fallen back to the 50 day moving average. Being in an overbought state provides extra downward pressure on bonds.

I am recommending to

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.

Yesterday's continued woes concerning Freddie and Fannie resulted in a mini rally for bonds. This morning Jobless Claims were less than expected (though not by very much) and the Philadelphia Fed Index came in slightly improved as well (but still in contraction mode).

Technically speaking - the FNMA 6.0% 30 year bond jumped quite nicely yesterday barreling through the 50 day moving average, though currently coming back down. One negative working against the momentum is the bond currently being overbought.

With the 50 day moving average broken but some weakness in the market I am recommending to

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.

Even with yesterday's unexpected increase in PPI, bonds held their own throughout the day. This morning good news on HP's solid earning help the pre-market stock gain. Since then reports have come out showing Freddie Mac and Fannie Mae may still be in trouble causing earlier gains to be wiped out.

Technically speaking - the FNMA 6.0% 30 year bond held its own on the 50 day moving average yesterday. This mornings news appears to be giving the bond the momentum to break through the 50 day moving average. One negative working against the momentum is the bond currently being overbought.

Until the 50 day moving average is solidly broken I am recommending to

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.

Mixed bag of news today. Personal Income Expenditures held at expected levels, though personal income and spending was up slightly in December. Jobless claims came in higher than expected. All this roughly translates to good news for bonds. This shows inflation being held in check (for the moment).

Technically speaking - the FNMA 5.5% 30 year bond had stayed below the 10 day moving average yesterday. In fact, it had dipped lower on the Fed cutting the Fed Funds rate. On today's news, the bond has broken back above the 10 day moving average to where it started out before this current round of cuts. The bond has also moved back to being neither overbought nor oversold - which could translate into the bond moving higher and rates coming lower.

The pundits will be recommending to their subscribers to be floating today. But with the history of rates getting worse after a Fed cut it will be best to

Lock!

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 released today coming in lower than expected. Auto Sales were also released coming in at expectations. A wee bit confusing as the Auto Sales show the economy not slowing down as much as expected. (Perhaps there is no recession)

Technically speaking - the FNMA 5.5% 30 year bond fell below the 10 day moving average again. The bond is still very near the overbought range.

With the Fed meeting coming to a close today, expect to see another 1/4% drop in the Fed Funds rate. As rates improve briefly and as they will continue to worsen it would be best to

Lock!

To learn why one should Float or Lock -

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