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 if pricing improves as we are near the bottom.
The week ahead for economic data that can affect mortgage interest rates
Wednesday
- Weekly Mortgage Bankers Association Application Report
- 10 Year Treasury Bill Auction
- July Consumer Credit Report
Thursday
- Weekly Jobless Claims
- July US Trade Balance
- 30 Year Treasury Bill Aucrion
Friday
- July Wholesale Inventories
Click here if you want to know the rates for your individual situation or have a lending need
Please note that rates were trending flat at the time of writing this post
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