Mortgage Rates Weekly Update for May 8, 2017
Mortgage Rates Weekly Update for May 8, 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 lower as mortgage bonds sold off to end the week. If you look at the mortgage bond chart below you can see mortgage bonds have been trading in a seesaw pattern as bonds bounce off support and are pushed lower by resistance. Mortgage bonds ended this week at the bottom on the trading pattern stopping right at support. We are recommending LOCKING your mortgage rate as mortgage bonds have a tough ceiling of resistance overhead and if break below support have a good way to go lower and move mortgage interest rates higher.