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=DFfxphLDbVM
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Continued progress towards a bailout band-aid for the InsignificantBig Three continues. This is raising expectations of an improvement of the economy? Or just a stop gap measure. Stock markets are looking for a mini rebound from yesterday's sell-off. Bonds are already down in the apparent stock rally - though look at what happened yesterday
Technically speaking - the FNMA 5.5% 30 year bond bounced off key yearly highs yesterday and has since bounced off support levels. Bonds are taking a breather from being in the overbought range - always a good sign..
I am recommending to
To learn why one should Float or Lock -