Should I Float? Should I Lock? - Daily Update for Thursday, September 24, 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. 

Initial Jobless Claims for last week were released showing lower amounts than expected, i.e. more jobs being realized. Existing home sales came in weaker than otherwise expected.

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

Technically speaking - the FNMA 4.5% 30 year bond has attempting to regain 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

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