Mortgage Rate Lock Advice 9/27: A Busy Week for Economic Data Could Create Lock Opportunity

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, For those 15 or more days out, you can FLOAT to take advantage of any improvements
• Long-term - FLOAT

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

Monday

• 2-Year Treasury Auction

Tuesday

• Case/Shiller Home Price Index
• September Consumer Confidence
• 5-Year Treasury Auction

Wednesday

• MBA Mortgage Weekly Application Report
• 7-Year Treasury Auction

Thursday

• Weekly Jobless Claims

Friday

• August Personal Spending and Income Index
• University of Michigan Consumer Sentiment Index
• August Construction Spending
• September Auto and Truck Sales