Mortgage Rates Update for March 13, 2017
Mortgage Rates Update for March 13, 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 jumped higher last week to the highs seen in mid December as the improving economy and higher inflation caused mortgage bonds to sell off. If you look at the mortgage bond chart below you can see mortgage bonds broke through floor of support on Wednesday and sold off to find support at the lows seen in December. Since mortgage bonds were able to rally off support on Friday we are recommending FLOATING your mortgage rate to start the week to see if bonds can recover.