Mortgage Rates Weekly Update for March 20, 2017
Mortgage Rates Weekly Update for March 20, 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 as mortgage bonds were able to rebound last week after the Federal Reserve raised their Fed Funds Rate. If you look at the mortgage bond chart below you can see mortgage bonds were able to bounce off multi-year lows after Fed Hike and now have hit a tough ceiling of resistance. We are looking to see if we can repeat the trend from the December Rate Hike where bonds rallied higher so we recommend FLOATING Your mortgage rate to start the week to see if mortgage bonds can rally and break above resistance.