Mortgage Rates weekly market update for the Week of April 13, 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 bounced around last week near record lows as mortgage bonds traded in a tight trading channel. If you look at the mortgage bond chart below you can see the two below lines on the chart created a ceiling of resistance at the top and a floor of support on the bottom. Mortgage bonds are looking to break out of this channel and with the green candle on Friday, we are recommending FLOATING your Mortgage Rate to see if bonds can get enough momentum to break through the ceiling of resistance.