Ladies and Gentlefolk, please keep reading as I have a new updated status on whether you should lock or float today!  This suggestion might cause some controversy:

The bond market were negative this morning (11/32 down) after stocks had an early rise (Dow up 50 points while Nasdaq up 3 points).  You are probably seeing higher mortgage prices today by about .25% of a discount point.

With that said, I can firmly say that I expect a slight downward motion of the bonds over the next couple of days (especially since there aren't any major earthshattering economic news releases scheduled).  So, I am going to suggest that you lock your loans and lock every loan in your pipeline if you plan on closing it within the next 60 days.

Keep an eye on the bond market just in case you go against this and attempt to float!

 

1 Comments on Market Update - Lock or Float (November 6)

NOV
06
2007
 Thanks for the insight, hard to always stay on top of the homework in this business.
2:42pm • #1


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Andrew Scherer

Monroe, CT

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