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.
Last week's fears and roller coaster are not yet a distant memory. Overseas markets took a beating today and those fears look to be passed on to US markets.
The Fed has their regularly scheduled meeting on Wednesday. This coupled with some possibly highly volatile news towards the end of the week could have traders pausing to see how things pan out.
Technically speaking - the FNMA 5.5% 30 year bond is bumping up against the 10 day moving average. This coupled with the bond moving out of the overbought range could move prices lower and rates higher.
For the short term - it would be best to
Lock!
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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