Mortgage Rates weekly market update for the Week of August 10, 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 reached the lows not seen since May on Monday last week but then sold off till hit floor of support on Wednesday.  If you look at the mortgage bond chart below you can see bonds were able to rally off support on Wed. Bonds ended the week below where they started so mortgage interest rates did rise but with mortgage bonds rallying off support, we are recommending FLOATING your mortgage rate to start the week. Keep Reading...

Mortgage Rates weekly market update for the Week of August 3, 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 finally able to reverse the trend and move lower last week as mortgage bonds broke through a tough ceiling of resistance.  If you look at the mortgage bond chart below, you can see the blue arrow shows the short term trend is now for bonds to move higher which moves mortgage interest rates lower.  The big green candle on Friday shows bonds closing above a huge resistance that has turned bonds lower in the past which had created a “triple top” at 103.68 which is a technical signal for bonds to sell off and move lower if don’t break through this top.  Since we broke through the triple top and closed above it at 103.84, it is a good sign for mortgage bonds to now use this previous resistance as support.  We are recommending FLOATING your Mortgage Rate to start the week but be cautious as we get close to Friday as the Jobs Report for July could be a market mover. Keep Reading...

Mortgage Rates weekly market update for the Week of July 6, 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 have been on a long term trend of moving higher since the middle of April 2015.  Last week mortgage bonds were able to bounce off the lows of 2015 but still remain below the 25 days moving average which is capping bonds from moving higher.  The bonds did a rally on Friday after the Jobs Report was released.  The crisis in Greece is helping the bond markets and the “No” vote on Sunday is going to help boost the bond market as the stock market should sell off on the news.  We are recommending FLOATING Your Mortgage Rate to start the week to see if mortgage bonds can rally off the news from Greece and move above the 25 Day Moving Average. Keep Reading...