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Should I Float? Should I Lock? - Daily Update for Thursday, July 30, 2009
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. 
Jobless Claims for last week ticked up.  Whether due to summer employment coming to an end (in July) or summer doldrums causing more folk wanting unemployment ...)  Yesterday's Treasury auction came in very weak.  This caused bonds to sink back below the 200 day moving average after a great response to the negative economic reports of yesterday.  Perhaps we will see another uptick today.
Technically speaking - the FNMA 4.5% 30 year bond is attempting another run at the 200 day moving average.  It is currently approaching oversold status.
I am recommending to
   LOCK your best 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
 
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