Should I Float? Should I Lock? - Daily Update for Friday, October 30, 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.
Most interesting news today. Personal Spending came in as expected (though down from last month), Personal Consumption for last month and compared to last year were both in line with expectations. Personal Income came in as expected though slightly lower than last month. Only thing possibly affecting rates in a bad was Consumer Confidence coming in slightly higher than expected.
Yesterday's auction for Treasury's came in not very well received. This caused bonds to dip.
Look for rates this morning to be dip some from where they closed yesterday when rate sheets are released by AmerisaveMortgage Corporation.
Technically speaking - the FNMA 4.5% 30 year bond is currently keeping above the all important 200 day moving average. The bond is rising from oversold status.
I am recommending to
LOCK your best mortgage rate. I
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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