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.
Talk about jittery for all the wrong reasons. Citibank reported earnings this morning. They had a bigger loss than expected, $13 billion in write downs, but because some revenue streams came in higher stocks across the board are way up in pre-market trading.
Yesterday, the Fed had another auction that went quite well. In fact, so well that bonds actually ended up yesterday. Since there won't be any economic reports coming out until next Wednesday, look for bonds to take their lead from stocks.
Technically speaking - the FNMA 5.5% 30 year bond is still well below the 50 and 100 day moving averages. Since it is also well above the 200 day moving average and stocks look to be improving, then...
This is definitely the time 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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