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

By
Mortgage and Lending 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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Rainmaker
1,812,865
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.
The million dollar question....Even when you tell the clients what they should do...they will still try to out-think you.
Mar 28, 2008 07:55 AM #1
Rainer
4,571
Craig Roland
My Own - Cumming, GA
great ideas on the locks thanks for the advice
Mar 28, 2008 07:57 AM #2
Anonymous
Anonymous

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

 

Mar 28, 2008 10:51 PM #3
Rainer
185,143
Matthew Rosov
Amerisave Mortgage Corporation - Laurel, MD
Certified Mortgage Planning Specialist

Marc - correct

William - their loss

Craig - thanks

Mar 29, 2008 07:22 AM #4
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Rainer
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Matthew Rosov

Certified Mortgage Planning Specialist
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