Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Gross Domestic Product was released this morning falling 1/2% which was inline with what analysts had expected. Some profit taking occurred yesterday with bonds falling back to the 10 day moving average.
Technically speaking - the FNMA 4.5% 30 year bond fell back to the 10 day moving average yesterday and breached it this morning. Bonds do appear to be coming off of the overbought range which will help with the next push to break to new highs.
I am recommending to
LOCK your mortgage rate (stays above the multi year average for a couple days).
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
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