Should I Float? Should I Lock? - Daily Update for Thursday, September 17, 2009

Here are the daily thoughts on interest rate 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. 

Jobless claims came in slightly lower than expected.  Building Permits were down though Housing Starts slightly up.  The Philadelphia Fed Index came in quite a bit higher than expected - signifying a good chance the economy is coming out the recession.

Look for rates to remain steady this morning when rate sheets are released by Amerisave Mortgage Corporation.

Technically speaking - the FNMA 4.5% 30 year bond has bounced off a support level and attempting a rise back below to the 200 day moving average.  The bond is coming down from overbought status.

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

 

     Rates & Fees Guaranteed

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

 

 
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Matthew Rosov, Certified Mortgage Planning Specialist

Laurel, MD

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Amerisave Mortgage Corporation

Address: 6502 Walker Branch Dr, Laurel, MD, 20707

Office Phone: (866) 970-7283 x 6840

Cell Phone: (301) 536-2875

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