Mortgage Rates weekly market update for the Week of June 8, 2015, by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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 last week as the bond market reversed the trend from the previous week and sold off.  If you look at the mortgage bond chart below, you can see the trend is now for mortgage bonds to sell off and move lower which will move mortgage interest rates higher.  The big red candle down on Friday was after the better than expected jobs report was released.  The bond closed below key technical levels which if the bond doesn’t recover this week could foretell higher interest rates in the near future.  We are recommending LOCKING Your mortgage rate to start the week as the short term trend is for rates to move higher. Keep Reading...

Mortgage Rates weekly market update for the Week of June 1, 2015, by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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 were able to rebound lower last week as mortgage bonds rallied on lower stock prices.  If you look at the mortgage bond chart below you can see mortgage bonds moved higher last week after bouncing off the lows of 2015.  We are recommending FLOATING Your Mortgage Rate to start the week to see if mortgage bonds can continue to rally higher moving interest rates lower. Keep Reading...

Mortgage Rates weekly market update for the Week of May 25, 2015, by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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 rose last week after the previous week’s move lower.  If you look at the mortgage bond chart below you can see mortgage bonds sold off Monday and Tuesday to start the week which moved mortgage interest rates higher.  Bonds broke below the 200-day moving average and below the 2-year long term trend line on Tuesday.  This could have been very bad for mortgage rates but bonds were able to rally higher on Wednesday and close above the 200-day moving average.  Mortgage bonds ended the week above the 200 days moving average so we are recommending FLOATING Your mortgage rate to start the week to see if bonds can move higher off the 200-day moving average and move interest rates lower. Keep Reading...

Mortgage Rates weekly market update for the Week of May 18, 2015, by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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 were able to finally move lower after two weeks of moving higher.  If you look at the mortgage bond chart below you can see mortgage bonds were finally able to find a level of support on Thursday and bounce higher.  A good technical sign is a bond being able to move above the 200 days moving average on Friday and close above it.  This is a bullish signal for bonds so we are recommending FLOATING your mortgage rate to start the week. Keep Reading...