Mortgage Rates Weekly Update for Dec. 22, 2014
Delaware’s Weekly Mortgage Rate Update
Mortgage Rates weekly market update for the Week of Dec. 22, 2014, by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager and the author of the best selling book, Your Guide to Buying Your First Home in Delaware.
Call 302-703-0727 to get a mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan
Mortgage Rates moved slightly higher last week as the bond was pushed lower after failing to break through a tough ceiling of resistance. Looking at the mortgage bond chart depicted below you will see two black lines that represent a trading channel for the bond. The top black line is the line of resistance and the bottom black line is the line of support.
Bonds have traded between these two lines for the past couple of weeks failing to break out either higher or lower. With stock prices pushing higher and no momentum for bonds to break through the line of resistance in the short term, we are recommending LOCKING your Mortgage Rate if closing in less than 30 days as rates could move higher.
If looking to close in longer than 30 days then you can FLOAT your mortgage rate as the long term trend is still for bonds to trade higher so we are looking for bonds to break through the ceiling of resistance sometime in the next 30- 60 days. If you look at the mortgage bond chart below you can see the trading channel with an upward trend.
The next Delaware First Time Home Buyer Seminar is Saturday, January 17, 2015, n Newark, Delaware.
There is a Dover Delaware First Time Home Buyer Seminar Saturday, January 10, 2015, in Dover, Delaware. Register by calling 302-703-0727 or Register online at http://www.DelawareHomeBuyerSeminar.com
If you would like to apply for a Mortgage Loan, you can APPLY ONLINE HERE, you can call John Thomas at 302-703-0727.
John R. Thomas – NMLS 38783
Certified Mortgage Planner – Primary Residential Mortgage, Inc.
302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office
248 E Chestnut Hill Rd, Newark, DE 19713