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
  • 7-15 Days: I recommend FLOATING as this uptick will likely reverse
  • 15-30 Days: I recommend FLOATING
  • 30 or more days: I recommend FLOATING

There are no major economic announcements today, so it will likely be a quiet one for mortgages.  The weekly report for jobless claims does come out tomorrow, which will likely impact the market.

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