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.
A "new" report has been introduced to the national consciousness. The payroll company ADP, which has the lion's share of payroll reporting business, has reported an increase of 8,000 jobs for March. Though ADP isn't the best in accuracy, they do give a decent reading on how things will fare when the jobs report comes out on Friday.
Technically speaking - the FNMA 5.5% 30 year bond has managed to hold above the 50 day moving average. If it can weather this latest report, then the current support level becomes even stronger.
As always, things depend on your personal style. Pundits will be recommending a float though for me until we break above the current 2 1/2 year ceiling I am recommending to
Lock your interest 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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