Via Matthew Rosov, Certified Mortgage Planning Specialist (Amerisave Mortgage Corporation):

Should I Float? Should I Lock? - Daily Update for Thursday, October 8, 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. 

Little scheduled economic news occurred this week.  Today Initial Jobless Claims for last week were released coming in lower than expectations.  This should add to the Stock Market fervor going on in recent weeks.  Bonds have been holding their own attempting a foothold above the new developing ceiling. 

Look for rates this morning to increase from where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation.

Technically speaking - the FNMA 4.5% 30 year bond having a tough time with its current resistance level. The bond being in overbought status.

I am recommending to

   LOCK your best mortgage rate.  I 

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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Posted by Monique Hailer on 10/08/2009 09:23 PM   Comments (3)  
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3 Comments on Should I Float? Should I Lock? - Daily Update for Thursday, October 8, 2009

OCT
09
2009
305,993 Points 4 Featured Posts Outside Blog Attended Rain Camp

Monique, Great points on how to determine "lock or float."  I am glad I don't have to make that call - it's not easy.
4:43pm • #1
288,359 Points 1 Featured Post Localism Sponsor Attended Rain Camp

Hi Susna ~ Yep me too!
9:02pm • #2
OCT
10
2009
878,908 Points 10 Featured Posts Outside Blog

Monique - indeed the biggest question of the day ... more than the rates need to be considered ... one should look at ones ability to meet the payments if rates should rise.
7:17pm • #3

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Monique Hailer

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