Should I Float? Should I Lock? - Daily Update for Thursday, October 29, 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. 

Gross Domestic Product roared in at 3.5% growth for last quarter - higher than some analysts predicted.  Jobless claims were higher.  The kicker though, helping bonds hold steady, is a small element inside the GDP report showing inflation to be in check.

Look for rates this morning to be dip some from where they closed yesterday when rate sheets are released by AmerisaveMortgage Corporation.

Technically speaking - the FNMA 4.5% 30 year bond is currently keeping above the all important 200 day moving average. 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

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