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 Report due out this afternoon which will offer some guidance to how the Fed may act at their next meeting in two weeks.  Until then, bonds will be taking direction from stocks.  Stocks appear to be on an upswing this morning with the continued "weakening" of oil.   

Technically speaking - the FNMA 6.0% 30 year bond fell to yearly lows yesterday, then settling back on support.  Unless a major travesty occurs, look for bonds to hold this level until real news comes out.  Bonds being in an oversold state will help maintain this level.

Because of the negative action of bonds 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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Loan Officer: Matthew Rosov, Certified Mortgage Planning Specialist (Envision Lending Group)
Matthew Rosov, Certified Mortgage Planning Specialist
Laurel, MD
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