Delaware Mortgage Rates for January 2007
Delaware Mortgage Rates rose all week as lower oil prices and good economic news allowed the stock market to rally. The S&P hit an all time high. The outlook for the stock market going into next week is for a bullish run up. This means Mortgage Rates in Delaware and across the nation are likely to continue there upward movement.
Mortgage Rates typically move higher when the stock market rallies because this pulls money out of the bond market into the stock market forcing interest rates on the bonds to increase. Your mortgage is tied to a mortgage backed security which is bought and sold on the bond market. So if we have a continued rally next week in the stock market we will see even more money moving out of bonds forcing Delaware Mortgage Rates higher.