Monday 7/14/08.... Strong through the close

As you can see, we rose right through the close today.  Unless tomorrow opens extremely weak, we should be able to maintain decent rates tomorrow morning even if we have some overnight weakness.  The caveat, of course, is that 3 economic reports will all hit before lenders release rates.  If these are significantly stronger than expected, or if the PPI shows worse inflation than expected, you could actually have worse rates tomorrow morning even though we ended the day on a high note.

In this tumultuous time, no one could be faulted for locking tonight, however, there is a good enough chance that rates will improve tomorrow that floating makes sense.