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Rates Begin Week Dismally But Possible Respite In Future As Bond Market Nears Oversold Level

November 15, 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. If your risk tolerance permits, I would FLOAT in 7 – 15 day range with your lender on speed dial to lock on improvement

Long-term – FLOAT as market is oversold

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

Monday

  • October Retail Sales
  • September Business Inventories
Tuesday
  • October PPI
  • October Industrial Production
  • October Capacity Utilization
  • NAHB Housing Index
Wednesday
  • MBA Mortgage Applications Report
  • October CPI
  • October Housing Starts
Thursday
  • Weekly Jobless Claims
  • October Economic Indicators Report
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