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Should I float? Should I lock? - Daily Update for Wednesday, December 24, 2008

By
Mortgage and Lending with Amerisave Mortgage Corporation

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

Personal Income fell for last month and Personal spending also went down - almost some logic to it all.  Durable Goods orders were also down but not as far down as expected.   

Technically speaking - the FNMA 4.5% 30 year bond rose back to the 10 day moving average yesterday after some volatility.  This morning bonds are looking to improve on a shortened trading day.

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

 


 

 

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