Here are the daily thoughts on floating or locking if you are asked by your clients.
Video Version available at http://www.youtube.com/watch?v=hsPPYLqmFXk
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
As expected more bad economic news. Personal spending and Durable Goods were both worse than expected. Personal Expenditures for last month and yearly comparisons were both slightly down - signifying a inflation under control. Jobless Claims were slightly lower than expected while personal spending slightly higher.
Technically speaking - the FNMA 6.0% 30 year bond closed much higher than previous days yet quite a bit off the highs for yesterday. This morning bonds are down slightly but still in excellent territory. The bond is hovering just at the overbought range.
I am recommending to
To learn why one should Float or Lock -