Mortgage Rates Update for March 6, 2017
Mortgage Rates Update for March 6, 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 all week. If you look at the mortgage bond chart below you can see mortgage bonds sold off on Monday after hitting tough ceiling of resistance on previous Friday. Mortgage Bonds continued to see off all week until finally finding a floor of support on Friday and closing with a green candle on the chart. Bonds were able to close above support into the middle of the trading channel so we are recommending FLOATING your mortgage rate to start the week.