Should I float? Should I lock? - Daily Update for Wednesday, June 18, 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.

Little scheduled economic news is due out today. Bonds will be taking direction from stocks. Due to certain negative news, stocks appear to be heading for the cellar so bonds will possibly be on an upturn this morning, i.e. rates may come down a bit.

Technically speaking - the FNMA 6.0% 30 year bond tested resistant levels yesterday. If stocks continue to tumble, then a break through would be significant. Bonds are also in an oversold status, so this could "add fuel to the fire".

Since this is no time to gamble, 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 06/18/2008 07:47 AM

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Loan Officer: Matthew Rosov, Certified Mortgage Planning Specialist (Amerisave Mortgage Corporation)

Matthew Rosov, Certified Mortgage Planning Specialist
Laurel, MD
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Amerisave Mortgage Corporation

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