Rates have come off their lows from Monday and have improved every day this week. So what should we tell our clients going into this weekend, lock or float?
We have retraced by more than 50% of the recent quick downturn, which for all technical junkies out there is a signal we might be running out of steam and should be safe and lock it in. On the other hand, we are sitting above a dual level of resistance at the 25 and 50 day moving averages currently and looking to close that way. If we have upward movement come Monday we could see more rate improvements. All in all this a tough call.
I say we float if we are 45 day or later to close and lock'em otherwise.
I would love to hear feedback and/or opinions from other professionals out there.