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.

Question of the Day - What will the Fed do?  The percentages are fluctuating, the bets are coming down to the wire - my prediction (as well as many "sane" pundits) is that the Fed will keep the Federal Funds rate exactly where it is now at 2% - keeping the Prime Lending Rate at 5%. 

On the continued fear of reduced demand of oil (yeah, right), oil has been falling from its height a few weeks ago - currently down 16% but 72% higher than a year ago.  This is causing some relief in the stock market

Technically speaking - the FNMA 6.0% 30 year bond sank down to the 10 day moving average yesterday.  Bonds are currently approaching the oversold state again.  Holding at the 10 day is key to seeing a reversal and improvement in mortgage rates.

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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3 Comments on Should I float? Should I lock? - Daily Update for Tuesday, August 5, 2008

AUG
05
2008
474,379 Points 15 Featured Posts Outside Blog Called Shot Master

As always, thanks for crunching the daily economic news in to two paragraphs.  You are my "must read", every day!
9:16am • #1
284,851 Points 37 Featured Posts Localism Sponsor Outside Blog

I heard the pundits say the same thing...expect a raise in the future but not for a while.  Thanks for your insight as always!
11:00am • #2
AUG
06
2008
185,141 Points 2 Featured Posts Outside Blog

Happy to bring some valuable information to you!
7:39am • #3


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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

Cell Phone: (301) 536-2875

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