Are you currently in the process of buying a home or refinancing? Trying to decide when to lock can be a stressful and difficult decision. In my job as a mortgage lender, I watch the markets daily to keep my clients abreast of changes to assist them in securing the best mortgage rate possible. Please see my recommendations below.
Short-term - LOCK as equities are still on a tear fueled by favorable earnings reports. The risk in this window is too great for the reward. If closing in more than 15 days, however, I still recommend FLOATING, but keeping a very watchful eye on the market as it has been tumultuous lately.
Long-term - FLOAT on belief that weakness in the economy will continue supporting the possibility in continued low mortgage rates.
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