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.
No News on tap for today. Federal Reserve Meeting Minutes from when the Fed dropped rates 3/4% is due out tomorrow. Since there is no scheduled news today, bonds will be taking direction from stocks.
Technically speaking - the FNMA 5.5% 30 year bond fell this morning at the opening to a key level of support. Holding to this level throughout the day would be good in the face of no real news. Bonds are near the overbought level so some selling pressure is definitely in the works..
As always, things depend on your personal style. Pundits will be recommending to float though for me 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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