Mortgage Rates Weekly Update for May 14, 2018
Mortgage Rates Update for May 14, 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 were slightly higher to end the week as mortgage bonds traded in a wide range between support and resistance. If you look at the mortgage bond chart below you can see bonds started the week just below a ceiling of resistance and failed to break through and sold off till hitting floor of support on Wednesday and then rallying off the support to end the week in the middle of the trading channel. We are recommending FLOATING your mortgage interest rate to start the week to see if mortgage bonds can continue to move higher and challenge the ceiling of resistance but if bonds fail to rally and sell off we would quickly switch to a locking stance.