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.

Consumer Pricing came in at a record high since 1991.  Both regular and core CPI were higher than expected.  With further testimony by the Fed chairman Ben Bernanke things could still get a bit dicey later in the day.

Technically speaking - the FNMA 6.0% 30 year bond has fallen with the unexpected bad news of inflation.  The bond has dropped to the 10 day moving average and appears to be holding there.  The bond is currently in an overbought state.

I am recommending to

  LOCK your mortgage 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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1 Comments on Should I float? Should I lock? - Daily Update for Wednesday, July 16, 2008

JUL
16
2008
246,069 Points 7 Featured Posts Attended Rain Camp

I've never been too much of a fan for a floating mortgage for most consumers.  Most people like to know what they have to pay each month.  I feel like educated investors and some home buyers can handle a floating mortgage but most should/need to be locked. 
9:10am • #1


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Matthew Rosov, Certified Mortgage Planning Specialist

Laurel, MD

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Amerisave Mortgage Corporation

Address: 6502 Walker Branch Dr, Laurel, MD, 20707

Office Phone: (866) 970-7283 x 6840

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