Mortgage Rates Weekly Update for November 13, 2017
Mortgage Rates Update for November 13, 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 moved higher last week as mortgage bonds sold off and broke below support. If you look at the mortgage bond chart below you can see mortgage bonds had been rallying higher and broke above resistance on previous Friday and were able to close above resistance Monday and Tuesday of last week but on Wednesday mortgage bonds broke below support and followed through on Thursday selling off to end the day even lower and Gapped down on Friday below the next floor of support. US Treasuries closed above an important level at a yield of 2.385% which is not a good technical signal for mortgage bonds so we are recommending LOCKING your mortgage rate to start the week.