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.
The Chicago "Business Barometer was release a little bit ago. It came in higher than expected though still showing the economy being in contraction. Be ready for another wild ride this week.
Technically speaking - the FNMA 5.5% 30 year bond currently above all moving averages. It's caught in a very small trading range. A significant move either way could send prices soaring or plummeting!
As always, things depend on your personal style. Until we break above the current 2 1/2 year ceiling I am recommending 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
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