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Should I float? Should I lock? - Daily Update for Monday, March 7, 2008

By
Mortgage and Lending with Amerisave Mortgage Corporation

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

Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA
Very interesting, I would tell my buyer to lock if they feel they have a great deal, but I do not get involved in the choice anymore!  One less thing to blame their Realtor for!
Apr 07, 2008 02:28 AM