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If you are looking for a Mortgage Professional who will give you the type of service that you deserve, contact Bob Amato (NMLS # 8632) and Empire Home Mortgage Inc. (NMLS # 44882). We answer our phones seven days a week until 9PM. Put us to the test! Our toll free number is (866) 742-5227.

 Visit our website, www.empirehomemortgageinc.com . There you can get answers to all of your financing questions, view rates and search for foreclosed properties.

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

 There was no relevant economic data to be posted Friday. This leaves the bond market to the mercy of stocks for the remainder of the day. If the major stock indexes start to slide further into negative ground, we may see bonds recover some of their early losses. On the other hand, if stocks are able to rebound into positive territory, bonds will likely move lower and mortgage rates could revise higher this afternoon.

 We also could see some profit-taking in bonds as traders look to book some of their profits from the recent rally. There is also some concern about just how much lower the yield on the benchmark 10-year Treasury Note can fall in the immediate future (currently at 1.75%), so capturing some profits is the prudent move for traders. This means that we could see some pressure in bonds as the day progresses and raises the possibility of seeing mortgage rates move higher intra-day or Monday morning.

 Next week has a handful of relevant economic reports scheduled for release in addition to two Treasury auctions that may influence mortgage pricing. There is economic news coming Monday when August’s New Home Sales report is released, but it is considered to be of low importance to the bond market compared to some other reports. Therefore, it usually has little impact on mortgage rates unless it shows a significant jump or decline in sales of newly constructed homes. Look for details on this release and the rest of next week’s activities 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... Lock 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 New York and Florida State Banking Departments and our loans are arranged through third party providers.

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