Rate Lock Advice 9/13 - Timing is Key to Securing Best Rate

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

Long-term - FLOAT, but if 15 - 30 days out I do recommend considering a LOCK on any rallies in the bond market.

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

Tuesday

August Retail Sales Report

July Business Inventories

Wednesday

August Industrial Production

Thursday

Weekly Jobless Claims

August Producer Price Index

Friday

August Consumer Price Index

University of Michigan/Reuters Consumer Sentiment Report