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Should I float? Should I lock? - Daily Update for Friday, May 23, 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.

Continued doom and gloom relating to oil. Two major airlines announced today that their coveted plans to increase direct flights to China have been postponed due to the ever increasing cost of oil. While not directly affecting bonds, there is certainly an indirect consequence. With the stock market is showing signs of weakness, bonds are appearing to make a run for the Northern Border.

New Homes Sales came in at expected levels - though still lower than previously reported.

Technically speaking - the FNMA 5.5% 30 year bond dropped below support levels yesterday. This means that yesterday's support levels are today's resistance levels.

If you haven't done so yet

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 05/23/2008 09:06 AM

Comments (3)

mortgage education, mortgage rates, maryland mortgages, market reports, tips

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3 Comments on Should I float? Should I lock? - Daily Update for Friday, May 23, 2008

Great Post, Thanks for the information. Keep up the great blogs. Very interesting. I enjoyed reading your blog

05/23/2008 09:22 AM

by Jerry LaRose, Realtor, Short Sale Expert Orlando, Florida Real Estate Expert (Keller Williams Realty)

Thanks, Jerry!

05/23/2008 01:46 PM

by Matthew Rosov, Certified Mortgage Planning Specialist (Amerisave Mortgage Corporation)

Matt- Thanks for this information. This is a great resource for anyone thinking of floating or locking.

05/24/2008 05:03 AM

by Jennifer Fivelsdal, Rhinebeck NY (Keller Williams Realty)

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