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.
Yesterday, a new mortgage plan was released by the Federal Government taking aim at Fannie & Freddie loans. While helping a bunch of folk, it does appear to lack some needed provisions for loans not held by the two mortgage behemoths. Economically speaking - retail sales are looking rather bleak. Though the official report isn't due out until Friday, many retailers are reporting lower than expected numbers.
Technically speaking - the FNMA 6.0% 30 year bond fell below the 200 day moving average on Monday due to a bond rollover and to weaker than expected Treasury Note sales. The bond is coming down from an overbought state..
I am recommending to
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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