Mortgage Rates Weekly Update October 10, 2016
Mortgage Rates weekly update for the Week of October 10, 2016 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 mortgage bonds sold off after being turned lower by resistance. If you look at the mortgage bond chart below you can mortgage bonds sold off last week moving mortgage rates higher until finding a bottom on Friday. Bonds were able to rally off support on Friday with Green Candle so we are recommending FLOATING Your mortgage rate to start the week.