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Rates begin week trending up on positive economic outlook

February 7, 2011

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
  • Long-term – LOCK

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

Monday

  • December Consumer Credit

Tuesday

  • $32 Billion 3-year Treasury Auction

Wednesday

  • MBA Weekly Mortgage Applications
  • $24 Billion 10-year Treasury Auction

Thursday

  • Weekly Jobless Claims
  • December Wholesale Inventories
  • $16 Billion 30-year Treasury Auction
  • January Treasury Budget

Friday

  • December Trade Balance
  • University of Michigan Mid-Month Consumer Sentiment
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