Mortgage Rates Weekly Update for February 4, 2019
Mortgage Rates Update for February 4, 2019 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 lower last week as mortgage bonds were able rally higher after a recent sell off that broke through two floors of support. If you look at the mortgage bond chart below you can see mortgage bonds had been selling off since hitting their high on January 3rd. Mortgage bonds finally found a floor of support on Monday January 28th which they were able to rally off of and break through ceiling of resistance. Bonds rallied up to the high of January 3rd on Thursday but retreated back lower. Friday mortgage bonds sold off after a very strong jobs report and have room to continue to move lower so we are recommending LOCKING Your mortgage rate to start the week.