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