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 was down for last month - worse then expectations and much worse than the previous month. This morning Durable Goods orders also shrank quite a bit more than expected. Normally all this would be great news for bonds but due to the mediocre bond sale which occurred yesterday, bonds are not quite reacting the way folk hoped.
Technically speaking - the FNMA 4.5% 30 year bond is attempting another run at the 200 day moving average. It is currently approaching oversold status.
I am recommending to
To learn why one should Float or Lock -
Check out Should I float? Should I lock? & Reasons to Float or Lock
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