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Mortgage Rate Lock Advice for Chicago and Oak Park – 7/20

July 20, 2010

Short-term – LOCK as equities recovered yesterday adversely affecting mortgage pricing. While there was improvement today, timing is too short for this risk. If closing in more than 15 days, however, I still recommend FLOATING.

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

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