Today was a pretty boring day.  Mortgage backed securities managed to close about where they started the day.  Tomorrow we do get the fed announcement and some economic data, should be a little more exciting.  If you are planning on closing this month, you might consider locking tonight or tomorrow before the fed announces their decision on interest rates.  Most economists are expecting a 50 basis point cut to the fed fund rate and accompanying discount rate.  I have locked all of my clients that are closing this month and a few for next month as they are not risk takers.  If you are closing next month, i feel floating will probably pay off and lead you to a lower rate. 


I will get back to you tomorrow.  Thanks all that read the blog.