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.

Today the Durable Goods report came out for December.  Good Economically speaking, the report show a rise of 5.2% almost triple what the pundits thought it would be.  Another sign that perhaps the Fed reacted hastily in their decision last week. 

Remember the Fed meets tomorrow.  Guesses are anywhere from no cut upto another 3/4% cut (highly improbable).  Best guesstimates are another 1/4% cut is in the works.

Technically speaking - the FNMA 5.5% 30 year bond is jumped above the 10 day moving average yesterday.  The bond is just below the overbought range. 

For the short term - it would be best to   

     Lock!

To learn why one should Float or Lock -

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