Mortgage Rates Weekly Update for November 27, 2017
Mortgage Rates Update for November 27, 2017 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 lower last week as mortgage bonds were able to rally above the 25 moving average. If you look at the mortgage bond chart below you can see mortgage bonds ended the week on the 200 day moving average and could make another run at breaking above the 50 day moving average. Bonds are in a tight trading pattern and the short term trend has been for bonds to move higher after bouncing off floor of support on November 13th. We are recommending FLOATING Your mortgage rate to start the week to see if bonds can break through ceiling of resistance and continue to move higher.