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.

The Consumer Price Index (CPI) jumped more than expected for last month. The Core CPI (taking out volatile energy and food) came in at analyst expectations. Jobless Claims also came in slightly higher than expected.  With inflation coming in at 5.9% (highest since 1991) look for both stocks and bonds to be rather subdued today.  This definitely signals the Fed will be raising rates by year's end (probably after the election).

Technically speaking - the FNMA 6.0% 30 year bond dropped to its lowest levels of the past two weeks yesterday.  With no apparent direction, bonds could take the direction of least resistance - which is currently down.

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