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Mortgage Rate Lock Advice for Chicago and Oak Park: 7/2

July 2, 2010

Short-term – LOCK as there is no longer a benefit in floating this close to closing. If you are closing in 7 – 15 days, I would consider FLOATING, but markets are trending toward repricing at higher rates.

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

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

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