Are you currently in the process of buying a home or refinancing?  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.

If closing your Chicago mortgage in:

  • 5-7 Days: I recommend LOCKING as the credit situation in Europe may be better than expected with favorable results from stress tests
  • 7-15 Days: I recommend FLOATING  but keeping a very watchful eye on the market as it has been tumultuous lately
  • 15-30 Days: I recommend FLOATING
  • 30 or more days: I recommend FLOATING

Click here for more information or to discuss your real estate deal in greater detail