Mortgage Rates Weekly Update
Mortgage Rates weekly market update for the Week of December 7, 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 moved higher last week as the bond market sold off in anticipation of the Federal Reserve raising the short term interest rates. If you look at the mortgage bond chart below, you can see bonds sold off all week but were finally able to find a floor of support on Friday with the green candle. With the Jobs Report behind us the bond able to find a floor of support, we are recommending FLOATING your mortgage interest rate to start the week.