Mortgage Rates Weekly Update for June 12, 2017
Mortgage Rates Weekly Update for June 12, 2017 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a Delaware 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 drifted higher as mortgage bonds were turned lower from tough ceiling of resistance. If you look at the mortgage bond chart below you can see mortgage bonds are trading in a tight pattern since rallying higher at the beginning of May 2017. Mortgage bonds have been fighting to stay above the 200 day moving average and have drifted lower since hitting the highs of the year. We are recommending LOCKING your Mortgage Rate to start the week to take advantage of the best rates of the year as mortgage bonds have failed to rally higher and closed on the 200 day moving average on Friday as well as US Treasury closed above the key 2.18% yield mark. Treasuries moving higher could force the bond market to sell off which would move mortgage interest rates higher.