Mortgage Rates weekly market update for the Week of January 5, 2015 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager and the author of the best selling book, Your Guide to Buying Your First Home in Delaware.
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Mortgage Rates were able to rebound last week and move lower after mortgage bonds bounced off support. If you look at the mortgage bond chart below you can see mortgage bonds rallied off support after Christmas and have continued to move higher. Friday the bond jumped up to record high for the past 12 months. We are recommending FLOATING your Mortgage Rate to start the week as the technical trading pattern is a very bullish signal for bonds to continue to move higher and move mortgage interest rates lower.