Mortgage Rates weekly market update for the Week of July 6, 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 on a long term trend of moving higher since the middle of April 2015. Last week mortgage bonds were able to bounce of the lows of 2015 but still remain below the 25 day moving average which is capping bonds from moving higher. The bonds did rally on Friday after the Jobs Report was released. The crisis in Greece is helping the bond markets and the “No” vote on Sunday is going to help boost the bond market as the stock market should sell off on the news. We are recommending FLOATING Your Mortgage Rate to start the week to see if mortgage bonds can rally of the news from Greece and move above the 25 Day Moving Average.