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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 closing in 7 or fewer days.  If closing in 7 to 15 days, cautiously FLOAT with a finger on the trigger.

Long-term - FLOAT with vigilance.

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

Tuesday

  • November Factory Orders
  • FOMC Minutes from December 15th Meeting
  • December Car and Truck Sales

Wednesday

  • ADP Private Jobs Report
  • MBA Weekly Mortgage Applications
  • December ISM Services Sector Index

Thursday

  • Weekly Jobless Claims

Friday

  • December Non-Farm Employment
  • November Consumer Credit
 

Mortgage market bearish in face of Chinese rate hike
Doug Katz (Chicago Bancorp)
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…
Mortgage rates improve at start of short trading week
Doug Katz (Chicago Bancorp)
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…
Details of Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the 2010 Tax Relief Act)
Doug Katz (Chicago Bancorp)
I received an informational email from a good friend and wanted to share the specifics. It presents in great detail the specifics of the recent legislation on taxes and unemployment. I have also included her contact information below for…
Mortgage Rates Flirt With 5%
Doug Katz (Chicago Bancorp)
This week in mortgage interest rates could have been worse. While we started with another upward climb, rates for Fannie Mae and Freddie Mac mortgages retreated a bit by Thursday. Based on the extreme pain of the last 30 or so days, this was jump up…
Housing data shows that we are in the long dark before the dawn
Doug Katz (Chicago Bancorp)
Corelogic released data today that the number of homeowners under water on their mortgage has decreased. Sounds like good news, but that is not the whole story. As with most data, it is the underlying environment that contributes to the findings…
Rates Begin Week Positively As Market Corrects
Doug Katz (Chicago Bancorp)
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…
Mortgage Rates Skyrocket on Tax Cut Compromise
Doug Katz (Chicago Bancorp)
This week was bad for rates, really bad. If you are not in the industry, it is impossible to describe what happens when you see rate increases like we saw this week, so I will once again defer to history to illustrate what occurred. "It's fire…
Mortgage rates begin week flat as bond market corrects from oversold levels
Doug Katz (Chicago Bancorp)
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…
Mortgage Rates Climb on Good Economic News
Doug Katz (Chicago Bancorp)
This week, I do believe that a little levity is in order. So, without further ado: A large passenger train was crossing the country. After they had gone some distance, one of the two engines broke down. "No problem, " the engineer thought and…
 
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Doug Katz

Oak Park, IL

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Chicago Bancorp

Address: 300 North Elizabeth, Suite 3E, Chicago, IL, 60607

Office Phone: (312) 738-6079

Cell Phone: (708) 829-1336

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