Short-term - LOCK as equities are currently trending up and the risk outweighs the likelihood of rate improvement. I am now recommending that those closing in 7 to 15 days FLOAT based on potential favorable market conditions.
Long-term - FLOAT on belief that weakness in the economy will continue supporting the possibility in continued low mortgage rates. In the window of 15 to 30 days, there is now more risk and vigilance is recommended.
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