Mortgage Rates Spike on Bullish Equities Market

Are you currently in the process of buying a home or refinancing in Chicago or vicinity? Trying to decide when to lock can be a stressful and difficult decision. In my job as a mortgage lender, I watch the markets daily to keep my clients abreast of changes to assist them in securing the best mortgage rate possible. Please see my recommendations below.

Short-term - LOCK if closing in 7 or fewer days. If closing in 7 to 15 days, cautiously FLOAT with a finger on the trigger.

Long-term - FLOAT with vigilance.

The week ahead for economic data that can affect mortgage interest rates

Tuesday

• November Factory Orders


• FOMC Minutes from December 15th Meeting


• December Car and Truck Sales

Wednesday

• ADP Private Jobs Report


• MBA Weekly Mortgage Applications


• December ISM Services Sector Index

Thursday

• Weekly Jobless Claims

Friday

• December Non-Farm Employment


• November Consumer Credit