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.

If closing your Chicago mortgage in:

  • 5-7 Days: I recommend LOCKING
  • 7-15 Days: I recommend FLOATING
  • 15-30 Days: I recommend cautionary FLOATING
  • 30 or more days: I recommend FLOATING, with a funger on the LOCK trigger

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


  • $32 Billion 3 Year Treasury Auction
  • October Consumer Credit


  • Weekly MBA Mortgage Applications
  • $21 Billion 10 Year Treasury Auction


  • Weekly Jobless Claims
  • October Wholesale Inventories
  • $13 Billion 30 Year Treasury Auction


  • October Trade Balance
  • November Import and Export Prices
  • University of Michigan Mid-Month Consumer Sentiment Report
  • November Treasury Budget