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Mortgage Rate Lock Advice 10/25 – Opportunity for rate watchers as this week’s pricing opens favorably

October 25, 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 if less than 7 days out from closing, but if between 7 and 15 days FLOATING with a cautionary monitoring of the markets could pay off.

Long-term – FLOAT

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


  • Case/Schiller 20 City Home Price Index
  • October Consumer Confidence Index
  • $35 Billion 2 Year Treasury Auction


  • MBA Mortgage Applications Report
  • September Durable Goods
  • September New Home Sales
  • $35 Billion 5 Year Treasury Auction


  • Weekly Jobless Claims
  • $29 Billion 7 Year Treasury Auction


  • 3Q Advance GDP
  • October Purchasing Managers Index
  • $29 Billion 7 Year Treasury Auction
  • University of Michigan Consumer Sentiment Index
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