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Should I float? Should I lock? - Daily Update for Friday, April 11, 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.

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

Comments (2)

Chuck Carstensen
RE/MAX Results - Elk River, MN
Minnesota/Wisconsin Real Estate Expert

This is good info.  First time I noticed your posts.

Apr 11, 2008 02:48 AM
Matthew Rosov
Amerisave Mortgage Corporation - Laurel, MD
Certified Mortgage Planning Specialist
Thanks, Chuck.  (btw - I can broker loans in MN ;-)
Apr 11, 2008 03:29 AM