Should I Float? Should I Lock? - Daily Update for Friday, September 25, 2009
Here are the daily thoughts on interest rate 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.
Durable Good Orders came in surprisingly low - much lower than expected and lower than last month. New home Sales came in slightly lower than last month and below expectations. Consumer Sentiment (a trailing indicator shows an uptick but this would be more based on the good news which has come out recently - which could be false).
Look for rates this morning to remain where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation.
Technically speaking - the FNMA 4.5% 30 year bond has broken back above the 200 day moving average. The bond is coming down from overbought status.
I am recommending to
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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