Mortgage Rates Update for September 11, 2017
Mortgage Rates Update for September 11, 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 to the lows of the year as the bond market rallied in part because of continued low inflation. If you look at the mortgage bond chart below you can see mortgage bonds have been on an upward trend since the middle of July 2017. Mortgage Bonds hit a tough ceiling of resistance on Thursday and were turned lower and Friday closed down from the highs not seen since last November. Low inflation, meager wage growth, inept Congress and under performing GDP remain primary tailwinds for mortgage Bonds and lower rates. With mortgage rates at record lows, we are recommending LOCKING your mortgage rate to start the week to take advantage of these low rates.