Rate Lock Advice for Chicago and Oak Park - 7/30

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. Although risk has tapered off, there is still too much risk to justify floating. If closing in more than 15 days, however, I still recommend FLOATING, but the market is losing momentum and there is increasing risk of rates increasing.

Long-term - FLOAT but markets could begin to shift and you should be ready if they do. I would keep vigilant over the next few days.

Click here if you would like to know more or want to talk about your individual needs

Mortgage Rates Remain Extremely Low

As I look back over this and the last few weeks from a rate perspective, I think of the French saying “plus ça change, plus c’est la même chose.” It says that the more things change, the more they stay the same and this sentiment definitely applies for mortgage rates. In short, rates remained extremely low throughout the week with no discernable change.

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Effectively searching for your new Lincoln Park home, Part 1…the Funnel

Great article from a colleague of mine

According to the National Association of Realtors®, approximately 90% of all home buyers* begin their search on the internet. With all those companies and individual agents vying for such limited shelf space, how do you make sure you’re selecting the best agent to help you find your new home? As an internet savvy Realtor®, I’ve likened the internet home search to a funnel, National aggregators like Realtor®.com are at the widest part, then corporate sites and finally, individual agent sites being at the smallest end of the funnel. This means buyers start with generic searches and work their way to an individual.

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Rate Lock Advice for Chicago and Oak Park - 7/29

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 as there is increasingly less chance of securing a better rate. If closing in more than 15 days, however, I still recommend FLOATING, but the market is losing momentum and there is increasing risk of rates increasing.

Long-term - FLOAT but markets could begin to shift and you should be ready if they do. I would keep vigilant over the next few days.

Click here if you would like to know more or want to talk about your individual needs

Mortgage Rate Lock Advice for Chicago and Oak Park - 7/28

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 as the risk outweighs the benefit. If closing in more than 15 days, however, I still recommend FLOATING, but keeping a very watchful eye on the market as it has been tumultuous lately.

Long-term - FLOAT but markets could begin to shift and you should be ready if they do. I would keep vigilant over the next few days.

Click here if you would like to know more or want to talk about your individual needs

Mortgage Rate Lock Advice for Chicago and Oak Park - 7/27 (No Change)

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 as the risk outweighs the benefit. If closing in more than 15 days, however, I still recommend FLOATING, but keeping a very watchful eye on the market as it has been tumultuous lately.

Long-term - FLOAT on belief that weakness in the economy will continue supporting the possibility in continued low mortgage rates.

Click here if you would like to know more or want to talk about your individual needs

Mortgage Rate Lock Advice for Chicago and Oak Park - 7/26

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 as the risk outweighs the benefit. If closing in more than 15 days, however, I still recommend FLOATING, but keeping a very watchful eye on the market as it has been tumultuous lately.

Long-term - FLOAT on belief that weakness in the economy will continue supporting the possibility in continued low mortgage rates.

Click here if you would like to know more or want to talk about your individual needs