Should I Float? Should I Lock? - Daily Update for Monday, September 28, 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.
No economic news due out today. Markets will be a bit slow (read volatile) due to the religious holiday. Look for bonds to hold the gain eked out on Friday and rates to maintain their current level.
Look for rates this morning to remain where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation.
Technically speaking - the FNMA 4.5% 30 year bond has satyed above the 200 day moving average and attempting to stay above support levels. The bond is coming approaching overbought status.
I am recommending to
To learn why one should Float or Lock -
To obtain rates and fees with a $500 guarantee - come visit