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Mortgage Rate Lock Advice 10/18 – Small Dip In Rates Marks Early Opportunity For Rate Shoppers

October 19, 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, As the recent gains are too good not to take advantage of

Long-term – FLOAT

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

Tuesday

  • September Housing Starts

Wednesday

  • MBA Mortgage Applications Report

Thursday

  • Weekly Jobless Claims
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