Should I Float? Should I Lock? - Daily Update for Thursday, November 19, 2009

By
Mortgage and Lending with Amerisave Mortgage Corporation

Should I Float? Should I Lock? - Daily Update for Thursday, November 19, 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

jobless Claims came in on target while the Philadelphia Fed Index came in sharply higher than otherwise expected.  Though this would normally put the kibosh on bonds - the stock market is taking a major slide today which is helping bonds to remain at least par from yesterday.

Look for rates this morning to remain steady from where they closed Wednesday 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 coming down from overbought 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

 


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Comments (4)

Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thanks for the post. I learn a lot from your updates on rates.

Nov 19, 2009 02:03 AM
Mark Lebkuchner / Home Loan Specialist
Warwick, RI

I hope you're not a Ravens fan because the Patriots are gonna KICK YOUR A%% !!!!!  

Jan 08, 2010 11:39 AM
John Spytek
Century 21 Advantage - Waterloo, IL

I'm sorry did you say something about the Patriots????

Jan 11, 2010 04:32 PM
Yvette Chisholm
Long & Foster Real Estate, Inc. - Rockville, MD
Associate Broker - Rockville, MD 301-758-9500

Matt, great to actually give someone some advice.  That is the biggest worry that buyers have these days is rates.   Prices aren't as important as rates.

Sep 11, 2013 11:51 PM