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=Ugmnuy6LDGA

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

Big news of the day seems to be a possible bailout of the automakers.  Rumors of this is causing global markets to rise and apparently the US markets are following suit.  With money apparently flowing towards stocks look for bonds to fall again today.. 

Technically speaking - the FNMA 5.5% 30 year bond retreated to support levels Friday after bumping up against the 2008 closing high.  Bonds are coming down from 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