Mortgage Rates Weekly Update for June 2, 2019
Mortgage Rates Update for June 2, 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 ended last week at the lows of the year as mortgage bonds were able to break above a very tough ceiling of resistance after stock market sold off from Tariffs threatened against Mexico by President Trump. If you look at the mortgage bond chart below, you can see the big green candle on Friday that closed well above ceiling of resistance. If mortgage bonds can confirm this break above the resistance on Monday then we could see mortgage rates move even lower so we are recommending FLOATING Your mortgage rate to start the week.