Mortgage Interest Rates Update August 22 2016
Mortgage Interest Rates weekly update for the Week of August 22, 2016 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a Loan Officer and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 for a Rate Quote or Apply Online for Rate Quote
Mortgage Interest Rate – Lock or Float?
Mortgage Interest Rates ended the week about where they started after rallying mid week to sell off on Friday. If you look at the mortgage bond chart below, you can see mortgage bonds have been trading in a tight sideways patter since the beginning of August trading between the blue lines on the chart. The bond closed Friday below the 50 day moving average which and the technical pattern are signalling a sell signal. If bonds continue to sell off this week then we will see mortgage interest rates continue to move higher, so we are recommending LOCKING Your Mortgage Interest Rate to start the week.