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. Unemployment rose to 5.7% (highest in 4 years) even though payrolls weren’t as bad as expected. Oil is apparently falling again and GM reported a $15 Billion loss. It appears that when the Fed meets again next week, the prime lending rate will remain the same. Technically speaking This is also perhaps why mortgage brokers charge high for closing fees. A percentage of the closing fee you pay on a mortgage goes to the mortgage broker's personal funds. This, along with a few more fees, stands as their salary.
