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.

No scheduled economic news reported today.  Though Citigroup's surprising report is expected to lift stocks this morning be aware that stocks could worsen as profit taking occurs.  With a lifting of stocks, expect to see bonds, hence rates, to worsen again.

Technically speaking - the FNMA 6.0% 30 year bond rebounded off a minor support level yesterday while opening the day bouncing off an even lower support (rather contradictory).  With bonds rapidly approaching the oversold level, look for a possible uptick today if oil attempts a regain of some of its losses over the past 3 days.

Since it is no longer possible to lock loans over night nor lock rates from the previous day - 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