Mortgage Rate Lock Advice for Chicago and Oak Park - 7/7 (No Change)

By
Real Estate Mortgage Broker with Chicago Bancorp

Short-term - LOCK as there is no longer a benefit in floating your mortgage rate this close to closing. If you are closing in 7 - 15 days, I would consider FLOATING, but mortgage markets are trending toward repricing at higher lending rates.

Long-term - FLOAT on belief that weakness in the economy will continue supporting the possibility in continued low mortgage rates

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Topic:
Lending / Financial
Location:
Illinois Cook County Chicago
Tags:
mortgage
mortgage lock advice
mortgage market
mortgage rates

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