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Should I float? Should I lock? - Daily Update for Tuesday, May 13, 2008

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.

Retail sales came in exactly on target. Unfortunately, sales minus the ever fluctuating auto industry came in better than expected. This will give encouragement to the stock market and feed a sell off of bonds - translating to an increase in rates today.

Technically speaking - the FNMA 5.5% 30 year bond fell below a major level of support this morning on the news of retail sales.

Since this level of support has been breached, the best bet is 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

Posted by Matthew Rosov, Certified Mortgage Planning Specialist on 05/13/2008 07:41 AM

Comments (1)

locking rates, mortgage rates, education, tips, maryland mortgages, market reports, interest rate

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1 Comments on Should I float? Should I lock? - Daily Update for Tuesday, May 13, 2008

MAY

2008

Matthew - Thank you, as always, for providing a wonderful snapshot of the important economic indicators. Looking at your posts over the last two weeks or so, it seems every indicator has come in "better than expected" - great news.

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