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 average work week held steady (33.0 hours), Hourly Earnings held steady (but below expectations), non farm payrolls were off by 100,000 from expectations and the national unemployment rate worsened by .1% to 9.5% (lower than expectations).  All in all this should be enough to get bonds beyond the current ceiling it's battling against - in reality with bonds overbought it will be a tough day.

Technically speaking - the FNMA 4.0% 30 year bond is battling a tough resistance level along with the 50 day moving average.  Bonds are in the overbought range.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

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

     To obtain rates and fees with a $500 guarantee - come visit

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 national payroll company ADP reports a loss of 473,000 jobs last month - more than expected but few than the month before.  A timely manufacturing index shows slightly improved numbers but still showing the economy in contraction. 

Technically speaking - the FNMA 4.0% 30 year bond is bounced off the 200 day moving average this morning and is in the overbought range.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

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

     To obtain rates and fees with a $500 guarantee - come visit

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 good news came out with China announcing they would continue to buy US debt (Treasuries).  This is one reason why the bond sales of last week went so well in terms of foreign investment.  Today Consumer Confidence and the Chicago business barometer will be released giving a short term view of how the economy is currently shaping up.

Technically speaking - the FNMA 4.5% 30 year bond is falling back towards the 200 day moving average.  Bonds are approaching the overbought range.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

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

     To obtain rates and fees with a $500 guarantee - come visit

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 and Spending were both higher than last month.  The big news of the day is the numbers from the Personal Consumption for May as well as the Yearly comparison - both were lower than expected and less than the last reading.  This is good news for bonds.

Bonds made a nice recovery yesterday blasting through the combined 10 day, 25 day and 200 day moving averages. 

Technically speaking - the FNMA 4.5% 30 year bond is above the 200 day moving average.  Bonds are approaching the overbought range.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

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

     To obtain rates and fees with a $500 guarantee - come visit

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. 

GDP came in at better than expected yet still 5.5% lower than last quarter  . Weekly jobless claims were higher than expected.  Both items are causing a drag on the stock market and a boost to bonds. 

Technically speaking - the FNMA 4.5% 30 year bond is currently making a run at the 200 day moving average due to the not as good as expected economic reports.  Bonds being neither overbought nor oversold could allow a nice rally to occur.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

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

     To obtain rates and fees with a $500 guarantee - come visit

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 robust 1.8% increase as last month.  Considerably well above where analysts expected it to be.  New Home Sales came in slightly lower than last month and below expectations.   All eyes are now on the Fed to see what they will say in completing their meeting this afternoon at 2 PM.  With another spat of Treasury bonds sold yesterday to finance the continued work of President Obama, bonds have done surprisingly well.

Technically speaking - the FNMA 4.5% 30 year bond is currently caught between the 10 day and 200 day moving average.  Bonds are still in limbo of being neither overbought nor oversold.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

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

     To obtain rates and fees with a $500 guarantee - come visit

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 came in higher than last month but below analyst expectations.  Under normal economic conditions, tomorrow's fed meeting would hold alot of attention.  Right now pundits are more wondering what the wording will be like as opposed to the Fed keeping rates where they are. 

Technically speaking - the FNMA 4.5% 30 year bond bumped up against the 200 day moving average yesterday.  Bonds are still in a limbo of being neither overbought nor oversold.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

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

     To obtain rates and fees with a $500 guarantee - come visit

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. 

With an apparent sell-off of stocks this morning, bonds are looking to reap the gains.  Currently the bond market is making a run at the 200 day moving average again.  Being able to break and hold above this will be a boon to better rate pricing. 

Technically speaking - the FNMA 4.5% 30 year bond is attempting at the 200 day moving average.  The bond is just above the oversold range - any rally today will be stronger based on this.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

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

     To obtain rates and fees with a $500 guarantee - come visit

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. 

Bonds continue their downward trend today.  Yesterday's sell off came not only from the good economic news coming out of the Philadelphia Fed Region but also from more debt coming up for sale from the Treasury Department. 

Technically speaking - the FNMA 4.5% 30 year bond is attempting a bounce off the 10 day moving average.  The bond is neither overbought nor oversold - but heading down towards oversold.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

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

     To obtain rates and fees with a $500 guarantee - come visit

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. 

Initial Jobless claims for last week came in slightly higher than expected.  The real killer on the day though is the Philadelphia Fed Index showing a much improved reading over last month - still negative but quite a bit improved and much better than expectations. 

The gap down from today's news will result in a back fill at some time in the near term (1-2 weeks)

Technically speaking - the FNMA 4.5% 30 year bond has fallen back below the 200 day moving average.  The bond is neither overbought nor oversold.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

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

     To obtain rates and fees with a $500 guarantee - come visit