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Rate Lock Advice 9/13 – Timing is Key to Securing Best Rate

September 14, 2010

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

Long-term – FLOAT, but if 15 – 30 days out I do recommend considering a LOCK on any rallies in the bond market.

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

Tuesday

  • August Retail Sales Report
  • July Business Inventories
  • Wednesday

  • August Industrial Production
  • Thursday

  • Weekly Jobless Claims
  • August Producer Price Index
  • Friday

  • August Consumer Price Index
  • University of Michigan/Reuters Consumer Sentiment Report
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