Mortgage Blog

First, Bond not traded today because of the Veteran Holiday.
So the rates will be the same as yesterday for all the lenders.

For some borrowers, some loan programs, I will float the loans
so that we can lock the rate for shorter period of time in order
to get better rates. But this is not for all programs.

The only benefit for this strategy is that we can lock
for shorter period. But the disadvantage is that we have
to sitck with this lender. If another lender has better
rates, then we will have to do another appraisal to switch.

But this is one of the strategy We will use for the next
a few months for my clients, as long as I can get better
rates for you.

This strategy is based on teh assumption that the rate
will be in the trading range in the certain period of
time.

Have a good weekend.