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 floating is not worth the risk
  • 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 but markets could begin to shift and you should be ready if they do. I would keep vigilant over the next few days.
  • 30 or more days: I recommend FLOATING

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