Mortgage Rates weekly market update for the Week of May 18, 2015 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 Rates were able to finally move lower after two weeks of moving higher. If you look at the mortgage bond chart below you can see mortgage bonds were finally able to find a level of support on Thursday and bounce higher. A good technical sign is the bond being able to move above the 200 day moving average on Friday and close above it. This is a bullish signal for bonds so we are recommending FLOATING your mortgage rate to start the week.