Mortgage Rates Weekly Update for March 12, 2018
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.