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If you want a Mortgage Professional who answers his phones seven days a week until 9PM, contact Bob Amato (NMLS # 8632) and Empire Home Mortgage Inc. (NMLS # 44882). Put us to the test! Our toll free number is (866) 742-5227. Visit our website, www.empirehomemortgageinc.com . You can get answers to all of your financing questions, view rates and search for foreclosed properties.

 If you are thinking of locking in an interest rate for a New York or Florida mortgage read this post.

Friday’s bond market has opened relatively flat due to a lack of economic data on tap today and a mixed morning in stocks. The Dow is currently up 38 points, but the Nasdaq has slipped 3 points. Both indexes are off earlier highs, meaning that investor interest has waned as the morning has progressed. The bond market is currently up 4/32, but we will still see an increase in this morning’s mortgage rates of approximately .250 of a discount point due to weakness in bonds late yesterday.

With no relevant economic data scheduled for release today, the bond market is left to stock market movements for direction. If the major stock indexes move higher later today, bonds may give up their minor gains. That could lead to slight upward revisions to mortgage pricing. However, if they continue their move away from the highs of the morning, we should see bonds move higher and mortgage rates slightly lower.

Next week is pretty active in terms of economic releases and events that are relevant to mortgage pricing. There is nothing of importance scheduled for Monday, but we may see some movement in bonds as investors prepare for the following day’s activity. The first relevant report is Tuesday’s Consumer Confidence Index (CCI) that measure consumer willingness to spend.

The rest of the week has several more reports and events that we need to watch, including a two-day FOMC meeting, the first Gross Domestic Product (GDP) reading of the 4th quarter, two potentially influential Treasury auctions and a few other reports. Look for more details on next week’s events in Sunday’s weekly preview.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Float if my closing was taking place between 8 and 20 days... Float if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

 Empire Home Mortgage Inc. is a registered Mortgage Broker with the NYS Banking Dept and our loans are arranged through third party providers.

http://activerain.com/empirehm