Mortgage Rates Weekly Update for January 23, 2017
Mortgage Rates Weekly Update for January 23, 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 Moved Higher Last week as mortgage bonds sold off after reports of higher inflation. If you look at the mortgage bond chart below you can see mortgage bonds were turned lower last Monday with the red candle following the previous Friday’s attempt to move higher. Mortgage bonds then sold off the rest of the week until finding a bottom on Thursday and moving higher on Friday with a Green Candle. We are recommending FLOATING Your mortgage rate to start the week to see if bonds can recover from the sell off and move back higher which would move mortgage rates lower.