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.
Consumer Sentiment was reported this morning coming in lower than expected. This coupled with the negative news reported by GM is going to cause good things for rates.
Technically speaking - the FNMA 5.5% 30 year bond is currently resting on the 10 day moving average. The news from the morning should cause the bond to rise back into a rather narrow trading range while it waits to see how Retail Sales come in on Monday.
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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