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.

Big news today.  The retail sales for January came better than expected.  This means that stock traders will be looking to jump back into the market as earnings should start to pick up.  Since most stock traders place their reserves into bonds, the bond market will be suffering today.

Technically speaking - the FNMA 5.5% 30 year bond continues to fall towards the 50 day moving average.  In this current vacuum of information the bond will drift along path of least resistance, which happens to be down.

With this, the recommendation on the short term for interest rates continues to be to

   

     Lock.

 

To learn why one should Float or Lock -

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

 
 
This post has been included in Maryland Information

3 Comments on Should I float? Should I lock? - Daily Update for Wednesday, February 13, 2008

FEB
13
2008
167,395 Points 12 Featured Posts Outside Blog
Matthew, You really made this into a great serious which the consumers should really read. I am in agreement with you
7:57am • #1
184,930 Points 2 Featured Posts Outside Blog

Matthew

Thank-you!  Much appreciated.  Now to get consumers to contact me! :-)
8:09am • #2

You say short term what if I have a 45 day escrow? Should I still lock?
Gin
6:25pm • #3

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Matthew Rosov, Certified Mortgage Planning Specialist

Laurel, MD

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Amerisave Mortgage Corporation

Address: 6502 Walker Branch Dr, Laurel, MD, 20707

Office Phone: (866) 970-7283 x 6840

Cell Phone: (301) 536-2875

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