Mortgage Rates Weekly Update for March 19, 2018
Mortgage Rates Update for March 19, 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 ended the week slightly lower than where they started as mortgage bonds moved up to the the 25 moving average. If you look at the mortgage bond chart below you can see mortgage bonds continue to trade in a sideways pattern and ended the day on Friday right at the 25 day moving average. Since bonds have failed to break through the 25 day moving average the last three times they have approached the 25 day moving average, we are going to recommend LOCKING your mortgage interest rate to start the week. Mortgage bonds have a big risk of selling off because they have failed to break through the 25 day moving average so the downside risk is much bigger than any potential gain in the bond market.