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.

Big news of the week occurs early.  Today Personal Income, Personal Spending, and annual Personal Consumption were all higher than analyst expectations.  This will give a boost to stocks and a drag on bonds.  Tomorrow the Fed will conclude their 2 day meeting with a high expectation of leaving the Fed Funds rate exactly where it is.

Technically speaking - the FNMA 6.0% 30 year bond closed Friday trapped nicely in a tight range.  This mornings number has seen bonds drop below the 25 day moving average.  With bonds neither oversold nor overbought, there is a good chance bonds won't dip too low.

With bonds dropping below support 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