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=vAmUW2QGAzk 

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

What was that loud thudding sound?  The 30 year bond knocking up against a major ceiling of the 2 1/2 year high.  Payrolls came in much worse than expected.  Most jobs lost in 34 years and unemployment hitting 6.7% (slightly better than expectations).  All this leads up to bonds not having the strength to burst through this barrier. 

Technically speaking - the FNMA 5.5% 30 year bond topped out against the 2 1/2 year high this morning.  Unless something major happens, look for bonds to retreat a bit today.  Bonds are still in the overbought zone.

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