Mortgage Rates Weekly Update for April 10, 2017
Mortgage Rates Weekly Update for April 10, 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 ended the week slightly higher after failing to move lower on Friday. If you look at the mortgage bond chart below you can see mortgage bonds moved higher on Monday and then traded sideways until Friday. Bonds made a run at tough overhead resistance on Friday but were turned lower and ended the week down with the red candle on Friday. We are recommending very carefully FLOATING your mortgage rate to start the week to see if bonds can make another run at tough overhead ceiling of resistance but be on guard because last time failed to break above resistance bonds switch trading pattern to selling off and moving interest rates higher.