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.
Though bonds will be taking their lead from stocks this morning, the report that could have an impact will be released later today - the minutes from the Fed's last meeting. Stock and Bond traders alike will be looking to see what was discussed and what the Fed will be likely to do the next time they meet.
Technically speaking - the FNMA 5.5% 30 year bond bounced nicely off a key support level yesterday. Depending on what happens throughout the day, a test of the 2 1/2 year mark could occur in the next couple days.
As always, things depend on your personal style. Pundits will be recommending to 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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