Mortgage Rates Update for November 7, 2016
Mortgage Rates update for the Week of November 7, 2016 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 finally stabilized and stopped moving higher last week as mortgage bonds found support at the 200 day moving average. If you look at the mortgage bond chart below you can see mortgage bonds sold off and were able to stabilize at the 200 day moving average which is the blue horizontal line. We are recommending FLOATING Your Mortgage Rates to Start the week to see if bonds can bounce off the support and move interest rates lower.