Here are the daily thoughts on 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.

After yesterday's news of unemployment numbers coming in less than expected and an agreement between Congress and the White House for an economic stimulus package, stocks continued to get better and bonds continued their decline. 

With no scheduled economic news being reported today, Microsoft's cheery outlook and the possibility of some really great things that could come from the stimulus package, stocks appear to be ready to climb for a third straight day.

Technically speaking - the FNMA 5.5% 30 year bond broke through the 10 day moving average yesterday with support of the 25 day moving average being another 40 bps below.  The bears appear to be in control as the bond is starting to drop out of the overbought range. 

With stocks appearing to get better, bonds moving out of the overbought stage and currently in a down trend - this would be a good time to  

     Lock!

To learn why one should Float or Lock -

                          Check out Should I float? Should I lock? & Reasons to Float or Lock