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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.

 Today has nothing of relevance scheduled. It is the only day of the week that doesn’t have economic data being released. There are six economic reports worth watching this week that are likely to affect mortgage rates in addition to the minutes from the last FOMC meeting. Some of them are very important to the financial and mortgage markets, starting with tomorrow’s data.

 The Commerce Department is going to be posting January's Retail Sales data early tomorrow morning. This report is very important to the financial markets because it measures consumer spending. Since consumer spending makes up over two thirds of the U.S. economy, any related data is watched quite closely. If tomorrow's report reveals weaker than expected sales, the bond market should thrive and mortgage rates will fall since it would be a sign that the economy is not as strong as many had thought. However, a stronger reading than the 0.8% increase that is expected could lead to higher mortgage rates.

 Overall, the most important day of the week will likely be tomorrow or Friday with the Retail Sales and CPI reports released. A couple of this week’s economic releases are considered highly important, so we should see movement in rates multiple days this week. In other words, be prepared for an active week in the markets and mortgage rates and maintain contact with your mortgage professional if still floating an interest rate.

 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 New York and Florida State Banking Departments and our loans are arranged through third party providers.

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