This week is starting off slow with little economic data being released. Two major data releases may impact mortgage rates this week with Beige Book data (relied upon by Fed during their meetings) being released on Wednesday and Retail Sales being released on Thursday.
Some Fed members are speaking as well and the market is always listening for good or bad updates from Europe.
Economic Calendar for Week of January 9, 2012
- Monday – Consumer Credit
- Tuesday – Wholesale Trade
- Wednesday – EIA Petroleum Status Report, Beige Book
- Thursday – Jobless Claims, Retail Sales, Treasury Budget
- Friday – International Trade, Consumer Sentiment, Import & Export Prices
Should I Lock Now or Wait?
Since mortgage rates are very close to their all time historical lows, there is likely much more to gain by locking now then by waiting. It only takes one piece of news to push rates up and when they move up, they move much faster than they move down. That being said, the market may have changed by the time you’ve read this, so calling us is the most sure way to get the most up to the date guidance in whether locking makes sense for you and what loan program best fits your needs.