Mortgage Stance – Lock or Float?

    After hitting another record close yesterday, the S&P 500 is lower this morning, which is boosting Bond prices. This morning’s tame inflation data from the Consumer Price Index also helped to support prices.

    Over in the foreclosure arena, RealtyTrac reported that foreclosure filings plunged by 26% from 2012 to 2013, with 1.4 million recorded last year, which was the lowest total since 2007 as the housing sector continues to rebound.

    With Mortgage Bond prices near the upper end of the current trading range, we are recommending to lock. 

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