Mortgage Rates Weekly Update [December 24 2018]

John Thomas December 24, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for December 24, 2018

Mortgage Rates Update for December 24, 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 have move to the lows not seen since the spring of 2018 as bonds have benefited from a sell off in the stock market.  If you look at the mortgage bond chart below, you can see bonds broke through the 200 day moving average last Tuesday which was a very significant ceiling of resistance.  Bonds stayed above the 200 day moving average all week so it is now a very good floor of support for bonds.  Monday stocks are expected to continue to sell off as a relief rally has not been evident and a strong floor of support for stocks is still lower.  We are recommending FLOATING Your mortgage rate into holiday as bonds should benefit from a continued sell off in stocks,  If stocks find a floor of support and mount a rally we quickly switch to locking your mortgage rate. Keep Reading...

Mortgage Rates Weekly Update [December 3 2018]

John Thomas December 2, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for December 3, 2018

Mortgage Rates Update for December 3, 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 have moved lower last week after mortgage bonds were finally able to break above the 50 day moving average.  If you look at the mortgage bond chart below, you can see mortgage bonds broke through the 50 day moving average on Tuesday and rallied higher the rest of the week ending on Friday with a Green Candle.  Mortgage bonds are now trading in the middle of a wide trading range between the 50 day moving average acting as a support and a ceiling of resistance at 100.914.  Bonds are still in overbought territory and any follow through to the downside could move rates higher as they move back down toward the 50 day moving average.  We are recommending carefully FLOATING your mortgage rate to see if bonds can make a run at resistance and move rates even lower but if we get a negative crossover signal we would switch to locking right away. Keep Reading...

Mortgage Rates Weekly Update [November 26 2018]

John Thomas November 26, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for November 26, 2018

Mortgage Rates Update for November 26, 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 have rebounded since hitting a 7 year high in November, helped by a sell off in the stock market which continued on Friday.  If you look at the Fannie Mae 4.0% Mortgage Bond Chart below you can see mortgage bonds have been trapped in a tight trading range this past week between the 25 day moving average (Support) and the 50 Day Moving Average (Resistance).  If bonds can break above the 50 day moving average they have some room to move higher which would move mortgage interest rates lower.  When we looking at the trading technicals there has been an overbought sign on the stochastic chart and if we see a negative crossover confirm it could mean a selloff in mortgage bonds which would move mortgage interest rates higher.  We are recommending CAREFULLY FLOATING Your Mortgage Rate to start the week to see if bonds can break above the 50 day moving average but if we see bonds test the 25 day moving average or we see a crossover on the Stochastic chart, we would quickly switch to a locking stance. Keep Reading...

Mortgage Rates Weekly Update [November 19 2018]

John Thomas November 18, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for November 19, 2018

Mortgage Rates Update for November 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 have hit a 7 year high on the week of November 8th but have since been able to move lower as mortgage bonds have rallied.  If you look at the mortgage bond chart below you can see mortgage bond were able to rally off support the previous Friday with the green candle.  Mortgage bonds have followed through all week closing up everyday but Thursday and ending the week with a green candle in the face of a stock market that traded higher on Friday as well. Mortgage bonds have broken through a ceiling of resistance and are just below the 50 day moving average.  If they can break above the 50 day moving average we could see mortgage rates move lower.  Because of all this, we are recommending FLOATING your mortgage rate to start the week to see if mortgage bonds can continue to rally higher. Keep Reading...

Mortgage Rates Weekly Update [November 12 2018]

John Thomas November 10, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for November 12, 2018

Mortgage Rates Update for November 12, 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 have been moving higher since end of August and had big sell off after Jobs Report for October 2018 and have followed through on that sell off until finding support on Thursday.  If you look at the Fannie Mae 4% Mortgage Bond Chart below you can see mortgage bonds have sold until until Thursday when Red Candle stopped right at support at 99.391.  Mortgage bonds were able to rally higher off this support on Friday as you can see with the green candle.  Mortgage ended the week about where they started and are in the middle of a wide trading channel.  Mortgage bonds have been following the lead of the 10 year US Treasury so we predict it will continue to do so this week absent any unexpected economic news.  The 10 Year stopped right at support at 3.19% yield and if it can break below this, mortgage bonds could continue to move higher and move mortgage interest rates lower so we are recommending carefully FLOATING Your mortgage rate to start the week but we have to watch the 10 year, if it doesn’t break lower and moves back up toward the 3.25% level, we would quickly switch to a locking stance.
Keep Reading...

Mortgage Rates Weekly Update [November 5 2018]

John Thomas November 5, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for November 5, 2018

Mortgage Rates Update for November 5, 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 have moved higher since August and last week hit a 2 year high for mortgage rates after the Jobs Report for October 2018 was released.  If you look at the mortgage bond chart below, you can see mortgage bonds have been in a down trend since August and tried to stabilize last week but bonds sold off on Friday with large red candle after the jobs report and bond broker through floor of support.  Mortgage bonds are in a wide range between support at 99.438 and overhead resistance at the 25 day moving average.  Mortgage Bonds are trying to Rally off support so we are recommending carefully FLOATING your mortgage rate to start the week but be very careful, if the 10 year treasury move higher toward 3.25% then we would recommend locking your mortgage interest rate right away so please stay in touch to monitor the bond market and the treasury market.
Keep Reading...

Mortgage Rates Weekly Update [October 1 2018]

John Thomas October 1, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for October 1, 2018

Mortgage Rates Update for October 1, 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 able to finally able to move lower last week after mortgage bonds rallied higher from a floor of support.  If you look at the mortgage bond chart below you can see mortgage bonds had been selling off since end of August but finally found a floor of support on September 24, 2018 and were able to rally higher last week.  But mortgage bonds sold off on Friday and ended the week with a red candle which formed a very bad technical signal so we are recommending LOCKING your mortgage rate to start the week. Keep Reading...

Mortgage Rates Weekly Update [September 24 2018]

John Thomas September 24, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for September 24, 2018

Mortgage Rates Update for September 24, 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 continued to move higher last week as mortgage bonds sold off as the stock market rallied higher .  If you look at the Fannie Mae 4.0% mortgage bond chart below you can see mortgage bonds are in a downward trend that started at the end of August shown with the black arrow.  Mortgage bonds were able to find a floor of support on Wednesday and held Thursday and Friday at that floor of support so we are recommending FLOATING your mortgage rate to start the week to see if mortgage bonds can rally higher off this floor of support. Keep Reading...