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.
Treasury Department released plans to buy up "bad/toxic" bank assets. This is thought to help banks start showing positive balance sheets in a hope they will start loosening up credit and begin to lend again.
Technically speaking - the FNMA 4.5% 30 year bond has fallen back to the support levels which were the old ceiling levels trying to be broken through back just before the big Treasury announcement last week. The bond is starting to come back down from overbought levels.
I am recommending to
LOCK your mortgage rate in at the improved pricing coming out today.
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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