Mortgage Rates Spike on Bullish Equities Market

By
Mortgage and Lending with 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 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
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Topic:
ActiveRain Community
Location:
Illinois Cook County
Groups:
Realtors®
Chicagoland and Northern Illinois Real Estate
Illinois Real Estate
MBA's Unite!
Advice for Buyers
Tags:
chicago
mortgage rates
freddie mac
oak park
fannie mae
forest park
river forest
mortgage rate lock advice

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Rainmaker
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Patrick White
Home Driven Realty, Inc - Baldwin, NY
Driven to bring New Yorkers home

Good Afternoon Doug

Thanks for the post. Have a good day.

Jan 03, 2011 08:06 AM #1
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Rainer
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Doug Katz

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