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. If your risk tolerance permits, I would FLOAT in 7 - 15 day range with your lender on speed dial to lock on improvement
Long-term - FLOAT as market is oversold
The week ahead for economic data that can affect mortgage interest rates
Monday
- October Retail Sales
- September Business Inventories
Tuesday
- October PPI
- October Industrial Production
- October Capacity Utilization
- NAHB Housing Index
Wednesday
- MBA Mortgage Applications Report
- October CPI
- October Housing Starts
Thursday
- Weekly Jobless Claims
- October Economic Indicators Report
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