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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.



The Labor Department said early this morning that 381,000 new claims for unemployment benefits were filed last week. This was a pretty good sized drop from the previous week’s revised total of 404,000 new claims, indicating employment sector strength and making the data negative for bonds. Fortunately though, the markets don’t seem to be too impressed or concerned about the news as it appears this morning’s bond gains are based on stock losses.



Tomorrow has the week’s two remaining economic reports scheduled, but neither is considered to be highly important to the markets or mortgage rates. The first is October's Goods and Services Trade Balance report at 8:30 AM ET. This report gives us the size of the U.S. trade deficit, but it is considered to be of low importance to mortgage rates. It is expected to show a $44.0 billion trade deficit. Unless it varies greatly from forecasts, I don't expect this data to affect mortgage pricing.



Also tomorrow is the release of December's preliminary reading to the University of Michigan's Index of Consumer Sentiment. This index measures consumer willingness to spend and can usually have enough of an impact on the financial markets to change mortgage rates slightly. Consumer sentiment or confidence is tracked because the more comfortable consumers are about their own financial situations, the more likely they are to make a large purchase in the near future. Since consumer spending makes up two thirds of the economy, any related data is watched closely. Tomorrow’s release is expected to show a reading of 65.1, which would be an increase from last month's final reading. A decline in confidence would be considered good news for the bond market and mortgage rates.



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... Lock if my closing was taking place between 21 and 60 days... Lock 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 lenders.

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