Mortgage Education with Matthew

Should I Float? Should I Lock? - Daily Update for Thursday, October 8, 2009

Here are the daily thoughts on interest rate 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. 

Little scheduled economic news occurred this week.  Today Initial Jobless Claims for last week were released coming in lower than expectations.  This should add to the Stock Market fervor going on in recent weeks.  Bonds have been holding their own attempting a foothold above the new developing ceiling. 

Look for rates this morning to increase from where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation.

Technically speaking - the FNMA 4.5% 30 year bond having a tough time with its current resistance level. The bond being in overbought status.

I am recommending to

   LOCK your best mortgage rate.  I 

To learn why one should Float or Lock -

                          Check out Should I float? Should I lock? & Reasons to Float or Lock

To obtain rates and fees with a $500 guarantee - come visit

Should I Float? Should I Lock? - Daily Update for Friday, October 2, 2009

Here are the daily thoughts on interest rate 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. 

An additional 263,000 jobs were lost last month - much worse than expected.  Unemployment rose to 9.8% right in line with expectations.  Hourly Earnings and Average Work Week were also both a bit lower than expected.. 

Look for rates this morning to improve from where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation.

Technically speaking - the FNMA 4.5% 30 year bond have broken through a resistance level but remains to be seen if it can maintain this due to the bond being high in overbought status.

I am recommending to

   LOCK your best mortgage rate.  (This is the closest I will come to going back to floating.  With lenders no longer offering over night pricing - this is an awesome time to lock in a great rate!)

To learn why one should Float or Lock -

                          Check out Should I float? Should I lock? & Reasons to Float or Lock

To obtain rates and fees with a $500 guarantee - come visit

Should I Float? Should I Lock? - Daily Update for Wednesday, September 30, 2009

Here are the daily thoughts on interest rate 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. 

Personal Income and Personal Spending were both higher than expected.  Jobless Claims according to Uncle Sam were also higher than expected.  Personal Consumption and Expenditures for last month were in line with last month’s numbers while the annual comparison was less than expected.  The national manufacturing index was below expectations and last months numbers though still in what is considered an expansion phase. 

Look for rates this morning to improve from where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation.

Technically speaking - the FNMA 4.5% 30 year bond have broken through a resistance level but remains to be seen if it can maintain this due to the bond being high in overbought status.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

                          Check out Should I float? Should I lock? & Reasons to Float or Lock

To obtain rates and fees with a $500 guarantee - come visit

Should I Float? Should I Lock? - Daily Update for Wednesday, September 30, 2009

Here are the daily thoughts on interest rate 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. 

GDP came in a bit higher than expected though still showing a contraction of just under 1%.  ADP reported jobless lower than expected yet better than last month’s reading. This along with yesterdays weaker than expected Consumer Confidence and the current selloff in the stock market is helping bonds to maintain its current mark near a key ceiling level.

Look for rates this morning to remain where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation.

Technically speaking - the FNMA 4.5% 30 year bond has stayed above the 200 day moving average and attempting to stay above support levels.  The bond is high in overbought status.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

                          Check out Should I float? Should I lock? & Reasons to Float or Lock

To obtain rates and fees with a $500 guarantee - come visit

Should I Float? Should I Lock? - Daily Update for Friday, September 25, 2009

Here are the daily thoughts on interest rate 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. 

No economic news due out today.  Markets will be a bit slow (read volatile) due to the religious holiday.  Look for bonds to hold the gain eked out on Friday and rates to maintain their current level.

Look for rates this morning to remain where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation.

Technically speaking - the FNMA 4.5% 30 year bond has satyed above the 200 day moving average and attempting to stay above support levels.  The bond is coming approaching overbought status.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

                          Check out Should I float? Should I lock? & Reasons to Float or Lock

To obtain rates and fees with a $500 guarantee - come visit

Should I Float? Should I Lock? - Daily Update for Friday, September 25, 2009

Here are the daily thoughts on interest rate 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. 

Durable Good Orders came in surprisingly low - much lower than expected and lower than last month. New home Sales came in slightly lower than last month and below expectations.  Consumer Sentiment (a trailing indicator shows an uptick but this would be more based on the good news which has come out recently - which could be false).

Look for rates this morning to remain where they closed yesterday when rate sheets are released by Amerisave Mortgage Corporation.

Technically speaking - the FNMA 4.5% 30 year bond has broken back above the 200 day moving average.  The bond is coming down from overbought status.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

                          Check out Should I float? Should I lock? & Reasons to Float or Lock

To obtain rates and fees with a $500 guarantee - come visit

Should I Float? Should I Lock? - Daily Update for Thursday, September 24, 2009

Here are the daily thoughts on interest rate 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. 

Initial Jobless Claims for last week were released showing lower amounts than expected, i.e. more jobs being realized. Existing home sales came in weaker than otherwise expected.

Look for rates to improve this morning when rate sheets are released by Amerisave Mortgage Corporation.

Technically speaking - the FNMA 4.5% 30 year bond has attempting to regain the 200 day moving average.  The bond is coming down from overbought status.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

                          Check out Should I float? Should I lock? & Reasons to Float or Lock

To obtain rates and fees with a $500 guarantee - come visit

Should I Float? Should I Lock? - Daily Update for Wednesday, September 23, 2009

Here are the daily thoughts on interest rate 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. 

Nothing major on the economic calendar until this afternoon when the Fed releases the results of their meeting.  It is still largely suspected the Fed will continue to do nothing as there have been no real signs of inflation nor a significant turnaround in the economy.  Even with these suspicions, bonds are holding their breath and sinking away from resistance levels back towards support levels.

Look for rates to worsen this morning when rate sheets are released by Amerisave Mortgage Corporation.

Technically speaking - the FNMA 4.5% 30 year bond has descended below the 200 day moving average.  The bond is coming down from overbought status.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

                          Check out Should I float? Should I lock? & Reasons to Float or Lock

To obtain rates and fees with a $500 guarantee - come visit

Should I Float? Should I Lock? - Daily Update for Monday, September 21, 2009

Here are the daily thoughts on interest rate 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. 

With no major news due out today, bonds are taking direction from stocks.  Currently bonds are looking to recover somewhat from Friday’s drop, though hitting a bit of a rough time against the 200 day moving average.

Look for rates to improve slightly this morning when rate sheets are released by Amerisave Mortgage Corporation.

Technically speaking - the FNMA 4.5% 30 year bond has bounced back above to the 200 day moving average.  The bond is coming down from overbought status.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

                          Check out Should I float? Should I lock? & Reasons to Float or Lock

To obtain rates and fees with a $500 guarantee - come visit

Should I Float? Should I Lock? - Daily Update for Friday, September 18, 2009

Here are the daily thoughts on interest rate 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. 

No scheduled reports due out today.  Yesterday, bonds rallied nicely due to an announcement from the Treasury Department in terms of next week’s bond auctions.

Look for rates to improve this morning when rate sheets are released by Amerisave Mortgage Corporation.

Technically speaking - the FNMA 4.5% 30 year bond has bounced back above to the 200 day moving average.  The bond is coming down from overbought status.

I am recommending to

   LOCK your best mortgage rate.

To learn why one should Float or Lock -

                          Check out Should I float? Should I lock? & Reasons to Float or Lock

To obtain rates and fees with a $500 guarantee - come visit