Market Update - Lock or Float (November 6)

By
Mortgage and Lending with Approved Mortgage Group NMLS #1287673

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!

Posted by

Andy Scherer

Loan Officer & Marketing Director

Approved Mortgage Group

610 Farm Lane, Doylestown, PA 18901

Mobile: 203-257-5279

Email: andy@approvedmortgagegroup.com

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Rainer
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Andy Hubba
EXIT Realty Professionals - Virginia Beach, VA
Thanks for the insight, hard to always stay on top of the homework in this business.
Nov 06, 2007 02:42 PM #1
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Rainer
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Andrew Scherer

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