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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.

Monday’s bond market has opened flat following the stock markets as the week quietly kicks off. The Dow is currently up 16 points while the Nasdaq has gained 2 points. The bond market is currently unchanged from Friday’s close, which should keep mortgage rates at Friday’s levels.

There is no relevant economic data scheduled for release today. There are five pieces of relevant economic data scheduled for release the rest of the week, but none will be posted tomorrow either. The first semi-relevant data comes Wednesday morning. However, it is the week’s least important report. I am expecting the stock markets to drive bond trading and mortgage rates until we get to middle of the week when the important data is posted. If the major stock indexes remain calm, mortgage rates should follow suit.

March's Goods and Services Trade Balance report will be released early Wednesday morning. This report gives us the size of the U.S. trade deficit but likely will not have much of an impact on the bond market or mortgage pricing. It is expected to show a $47.8 billion trade deficit, but it is the least important of this week's data and likely will have little influence on Wednesday's mortgage rates.

Overall, it likely will be another active week for mortgage rates, but the most activity will come the latter part of the week. The most important day of the week is Thursday with the Retail Sales and PPI reports on the agenda, but Friday’s CPI is extremely important to the bond market. With some very important data being posted this week, it would be prudent to be attentive to the markets 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... 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 NYS and Florida Banking Depts. and our loans are arranged through third party providers.

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