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Should I float? Should I lock? - Daily Update for Friday, March 21, 2008

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.

Both stock market and bond market are closed today for the holiday.

Technically speaking - the FNMA 5.5% 30 year bond is caught in a tight trading range (at least as historic ranges go). Unfortunately, the last time in this range, the bond fell more than 350 bps. Bonds are also seen to be in an overbought range.

With all this - I would still recommend one to

Lock your interest rate.

To learn why one should Float or Lock -

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

Posted by Matthew Rosov, Certified Mortgage Planning Specialist on 03/21/2008 10:02 AM

Comments (4)

mortgage rates, education, tips, maryland mortgages, lock, market reports, interest rates

This post has been included in Maryland Information

4 Comments on Should I float? Should I lock? - Daily Update for Friday, March 21, 2008

MAR

2008

Thanks for the post. I shall forward to clients considering this issue and let them study your linked articles.

I'm just SOOOOOOOOO HAPPY that the question "should I float or lock" is coming up in conversations again!

We're starting to hear the same thing over here. It's so much better than "should I buy or should I wait!"

Do you forsee a further cut in interest rates?? Id be interested in hearing your opinion on that...

MAR

2008

Love your blog. Rates have been so volatile lately it's hard to predict where they will go day-to-day. Whenever in doubt I always lock. As a rule of thumb I try not to even mess around with floating unless the customer wishes to do this. If I lock then I don't look back.

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