Mortgage Rates Update for August 28, 2017
Mortgage Rates Update for August 28, 2017 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. 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 about where they started as mortgage bonds were stuck trading in a tight channel between resistance and support. If you look at the mortgage bond chart below you can see the blue lines marking the floor of support and resistance that bonds have been trading. The mortgage bonded ended the week right at the ceiling of resistance that has held for several weeks. The Treasuries have broken beneath a tough floor of support at 2.18% and if can fall further, would help mortgage bonds break through a tough ceiling of resistance so we are recommending FLOATING your mortgage rate to start the week.