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Rates Begin Week Positively As Market Corrects

December 13, 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 (No Change) – LOCK

Long-term – (No Change) LOCK on ANY price improvements as windows for improvement will be small and fleeting.

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

Tuesday

  • November PPI
  • November Retail Sales
  • October Inventories
  • FOMC Policy Statement

Wednesday

  • Weekly MBA Mortgage Applications
  • November CPI
  • December NY Manufacturing Index
  • November Industrial Production
  • November Capacity Utilization
  • December NAHB Housing Market Index

Thursday

  • Weekly Jobless Claims
  • November Housing Starts
  • November Building Permits
  • December Philadelphia Fed Business Index

Friday

  • November Leading Market Indicators
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