Mortgage Rates Weekly Update for April 16, 2018
Mortgage Rates Update for April 16, 2018 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 higher to end the week as mortgage bonds sold off. If you look at the mortgage bond chart below you can see mortgage bonds have broken beneath support and fell back into a sideways trading channel they had been in for months. Bonds ended at the bottom of the channel and have not confirmed support yet. We are recommending LOCKING your mortgage rate to start the week until mortgage bonds can find a floor of support and rally higher as if break through the trading channel have more room to sell off and move mortgage interest rates even higher.