Should I float? Should I lock? - Daily Update for Friday, March 28, 2008

By
Real Estate Mortgage Broker with Amerisave Mortgage Corporation

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.

Big news of the day - Personal Consumption Expenditures - came in exactly at expectations.  This definitely shows inflation is currently in check.  The bigger news of the day is personal income rising more than expected yet spending staying under control. 

Technically speaking - the FNMA 5.5% 30 year bond has broken back below the 50 day moving average.  Unless it can come back above this key level, rates will be getting much worse!

One should definitely  

     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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Location:
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Rainmaker
1,660,278
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.
WHISPERING PINES REALTY
The million dollar question....Even when you tell the clients what they should do...they will still try to out-think you.
March 28, 2008 07:55 AM
Rainer
4,571
Craig Roland
My Own
great ideas on the locks thanks for the advice
March 28, 2008 07:57 AM
Anonymous #3
Anonymous
Anonymous

Lately with the volatility wouldn't you say 9 times out of 10 the safe play would be to lock?

 

March 28, 2008 10:51 PM
Rainer
185,141
Matthew Rosov
Certified Mortgage Planning Specialist
Amerisave Mortgage Corporation

Marc - correct

William - their loss

Craig - thanks

March 29, 2008 07:22 AM
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Rainer
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Matthew Rosov

Certified Mortgage Planning Specialist
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Maryland Mortgages and Market Reports