Mortgage Interest Rates Weekly Update January 18 2016
Mortgage Interest Rates weekly update for the Week of January 18, 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 Interest Rates were able to move lower last week after a big sell off in Global Stock Markets. If you look at the mortgage bond chart below you can see that mortgage bonds have been able to trade to the upper end of the trading range which has helped improve mortgage rates. But with mortgage bonds not able to mount more than a 19 bps rally in the face of the DOW Stock Index dropping 390 points to end the day, we are recommending LOCKING your mortgage rate to start the week. If stocks reverse, we will see the mortgage bonds sell off and move mortgage interest rates higher.