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Should I Float? Should I Lock? - Daily Update for Friday, October 23, 2009

By
Mortgage and Lending with Amerisave Mortgage Corporation

Should I Float? Should I Lock? - Daily Update for Friday, October 23, 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

Existing home sales jumped an incredible 9.4%. This has affected bonds for the worse though the stock market is down for the day as well. 

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

Technically speaking - the FNMA 4.5% 30 year bond stayed above the all important 200 day moving average - though the 200 day is being tested again this morning. The bond is near oversold 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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Comments (1)

Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

Matthew,

..and rates are continuing to worsen this morning.  Thanks for your post!

Mike in Tucson

Oct 23, 2009 02:48 AM