Here are the daily thoughts on floating or locking if you are asked by your clients. 

Video version available - http://www.youtube.com/watch?v=2Cy2MX7z5a4

As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation. 

Jobless claims fell off for last month by 21,000.  One data point does not a trend make.  Stock Markets are still off, companies are still planning on laying people off.  The one bit of good news is a possible push by the Treasury Department to get rates down to the 4.5% range.  The only way to do this would be for the government to start buying up mortgage backed securities.

Technically speaking - the FNMA 5.5% 30 year bond bounced off a key support level yesterday and bounced up to near opening levels.  This was expected as the bond is rather overbought.

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

     To obtain rates and fees with a $500 guarantee - come visit