Should I Float? Should I Lock? - Daily Update for Friday, July 24, 2009

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 rose slightly higher than expected.  Those this is normally good news some of the news coming in from earnings reports on Wall st are not where analysts had hoped they would be.   This is causing a downturn in the stock market and the bond market making another attempt at gaining above.

Technically speaking - the FNMA 4.5% 30 year bond is struggling to regain the 200 day moving average.  It is currently 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