Mortgage Rates Update for September 18, 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 lower last week after hitting the lows since November 2016 the previous week. If you look at the mortgage bond chart below you can see bonds hit a tough ceiling of resistance the previous week which was the highest price seen since November. Mortgage bonds were turned lower as the stock market rallied pushing mortgage bonds down to the next floor of support which did hold last week. With mortgage bonds sitting on a floor of support we are recommending FLOATING your mortgage rate to start the week to see if mortgage bonds can rally higher off support and move interest rates lower.