Mortgage Rates weekly market update for the Week of April 27, 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 have been moving up and down by about 0.25% in either direction over the last couple weeks as mortgage bonds have traded in a tight range. If you look at the mortgage bond chart below you can see mortgage bonds have traded in tight range bound between the two blue lines. The longer bonds trade in this channel the more momentum for a breakout. We are recommending FLOATING your Mortgage Rate to start the week as mortgage bonds were able to bounce off support on Friday.