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 of the day - Personal Consumption Expenditures - came in exactly at expectations. This definitely shows inflation is currently in check. The bigger news of the day is personal income rising more than expected yet spending staying under control.
Technically speaking - the FNMA 5.5% 30 year bond has broken back below the 50 day moving average. Unless it can come back above this key level, rates will be getting much worse!
One should definitely
Lock your interest rate.
To learn why one should Float or Lock -