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.

Jobless Claims are worse than expected.  Even with bad economic news, stock markets sinking worldwide (including here at home) - mortgage rates aren't improving as traditional models dictate they should.  Whether the general fear in the market place or the proverbial shoe, this make reading the bond market harder and harder.  Until the logjam breaks the safest course of action is taking advantage of the rates available today and locking in.

Technically speaking - the FNMA 6.0% 30 year bond bounced up against resistance yesterday and appears to be holding ground.  Bonds are approaching an overbought state. 

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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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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