Mortgage Rates Weekly Update for August 14, 2017
Mortgage Rates Weekly Update for August 14, 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 moved lower last week as the US stock market sold off and moved money into mortgage bonds. If you look at the mortgage bond chart below, you can see the trend is for bonds to move upward in price which moves mortgage interest rates lower. Mortgage bonds touched just below the highs of 2017 which means mortgage interest rates are at the lowest they have been all year. Mortgage bonds closed above support for the third day in the row so we are recommending FLOATING your mortgage rate to start the week.