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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.

Unemployment rose to 5.7% (highest in 4 years) even though payrolls weren't as bad as expected.  Oil is apparently falling again and GM reported a $15 Billion loss.  It appears that when the Fed meets again next week, the prime lending rate will remain the same. 

Technically speaking - the FNMA 6.0% 30 year bond closed yesterday nicely above the 50 day moving average.  With bonds currently neither overbought nor oversold, they will be taking direction from stocks today.

With bonds close to resistance levels 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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Envision Lending Group

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