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Should I float? Should I lock? - Daily Update for Thursday, July 3, 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.

Major Reports came out this morning and it looks like "good" news for bonds. Unemployment ticked up .1% and non farm payrolls was a bit lower than expected. Only "bad" news was the EU raised their interest rate by .25%, which will end up having repercussions on the "almighty" US dollar and indirectly on the price of oil.

Technically speaking - the FNMA 6.0% 30 year bond fell down to the 10 day moving average this morning on the EU news. Bonds need to hold at this level if mortgage rates are to remain steady or improve.

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 07/03/2008 07:44 AM

Comments (2)

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

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2 Comments on Should I float? Should I lock? - Daily Update for Thursday, July 3, 2008

good info. . .thank you

07/03/2008 08:03 AM

by Fernando Herboso Real Estate Maryland, DC and Virginia (Choice Real Estate )

I love how you tell us what we should do...and why! :)

07/03/2008 09:31 AM

by Shannon Lefevre Naples, Florida CRS (John R. Wood REALTORS Inc.)