Mortgage Rates Weekly Update for February 6, 2017
Mortgage Rates Weekly Update for February 6, 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 were able to end the week slightly lower than where they started the week. If you look at the mortgage bond chart below you can see mortgage bonds have been trading in a tight band between the blue lines for the past several weeks. Mortgage bonds were able to bounce off support from the bottom blue line and move higher as you can see with the green candles at the end of the week. We are going to recommend FLOATING Your Mortgage Rate to start the week to see if bonds can rally higher after bouncing off support.