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Things Could Get Interesting, But Not on Tuesday

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Welcome to Monday Mortgage Call, a weekly prognosis by Boston mortgage broker Brian Cavanaugh of where the all-important lending rates might be headed.

Look for Friday to be the most active day of the week, but we should see noticeable movement in rates today also. In between those days, there is plenty of data being posted that may move mortgage rates. The best candidate for calmest day is Tuesday with nothing in terms of relevant economic data set for release.

With so much on tap this week, there is plenty of opportunity to see large swings in the major market indexes and mortgage rates. Accordingly, it would be prudent to maintain contact with your mortgage professional if still floating an interest rate and closing in the near future.

As for whether you should lock in an interest rate now, I would:

LOCK if your closing was taking place within seven days…

LOCK if your closing was taking place between eight and 20 days…

LOCK if your closing was taking place between 21 and 60 days…

LOCK if your closing was taking place over 60 days from now…
· Our Monday Mortgage Call archive [Curbed Boston]