Bumpy Week Ahead For Mortgage Rates

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 less than 7 days out from closing, but if between 7 and 15 days FLOATING makes sense, but remember that pigs get fat and hogs get slaughtered. If you are too greedy, it may cost you.

Long-term - FLOAT

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

Tuesday

• September Wholesale Inventories
• $25 B 10 Year Treasury Auction

Wednesday

• MBA Mortgage Applications Report
• Weekly Jobless Claims
• $16 B 30 Year Treasury Auction

Friday

• University of Michigan Mid Month Consumer Sentiment