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Mortgage Rates Update for April 23, 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 broke through another floor of support. If you look at the mortgage bond chart below you can see the trend is for mortgage bonds to sell off in the short term and the long term. Mortgage bonds broke out of a sideways trading channel to the downside because Treasury Yields have spike higher forcing mortgage bonds to sell off. Mortgage bonds are sitting another floor of support that doesn’t seem likely to hold so we are continuing to recommend LOCKING your mortgage rate to start the week.
Mortgage Rates Update for April 16, 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 moved higher to end the week as mortgage bonds sold off. If you look at the mortgage bond chart below you can see mortgage bonds have broken beneath support and fell back into a sideways trading channel they had been in for months. Bonds ended at the bottom of the channel and have not confirmed support yet. We are recommending LOCKING your mortgage rate to start the week until mortgage bonds can find a floor of support and rally higher as if break through the trading channel have more room to sell off and move mortgage interest rates even higher.
Mortgage Rates Update for April 2, 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 finally moved lower last week as mortgage bonds were able to break above the 25 moving average. If you look at the mortgage bond chart below you can see mortgage bonds are now moving higher in the short term after breaking above the 25 moving average last Tuesday and followed through on Wednesday and Thursday. We are recommending FLOATING your mortgage rate to start the week to see if mortgage bonds can continue to rally now that we have broken above the 25 day moving average which had been a tough ceiling of resistance since the beginning of January.
Mortgage Rates Update for March 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 failed to move lower after a stock market drop of over 400 points on Friday. If you look at the mortgage bond chart below you can see that mortgage bonds failed to break out of the channel they have been caught in for the past couple of weeks even in the face of a big stock market sell off. Failing to break above the 25 moving average is a bad technical signal for mortgage bonds so we are recommending LOCKING your Mortgage Rate to start the week.
Mortgage Rates Update for March 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 ended the week slightly lower than where they started as mortgage bonds moved up to the the 25 moving average. If you look at the mortgage bond chart below you can see mortgage bonds continue to trade in a sideways pattern and ended the day on Friday right at the 25 day moving average. Since bonds have failed to break through the 25 day moving average the last three times they have approached the 25 day moving average, we are going to recommend LOCKING your mortgage interest rate to start the week. Mortgage bonds have a big risk of selling off because they have failed to break through the 25 day moving average so the downside risk is much bigger than any potential gain in the bond market.
Mortgage Rates Update for March 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 ended the week slightly higher than where they started as mortgage bonds were turned lower after failing to break through the 25 moving average. If you look at the mortgage bond chart below you can see mortgage bonds continue to trade in a sideways pattern and ended the day on Friday near the bottom of the channel. US Treasuries ended the day at 2.90% just beneath resistance at 2.908%. If yields move above this level it will cause mortgage bonds to continue to sell off and move mortgage interest rates even higher; therefore, we are recommending LOCKING Your mortgage interest rate to start the week.
Mortgage Rates Update for March 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 ended the week about where they started after sell off in mortgage bonds on Friday to end the week. If you look at the mortgage bond chart below you can see mortgage bonds moved higher during the week but were turned lower at the 25 moving average and sold off after talk of tariffs on steel imports. The long term trend for mortgage bonds is to continue to sell off and move lower which will move mortgage interest rates higher; therefore, we are recommending LOCKING your mortgage rate to start the week.
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