Delaware Mortgage Rates Weekly Update for August 25, 2014

Delaware Mortgage Rates weekly mortgage market update for the Week of August 25, 2014, by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Newark, Delaware Branch Manager and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan
Delaware Mortgage Rates moved higher to start the week but then rallied back to end the week near 12-month lows. Last week we had a rash of better than expected economic reports that started a sell-off in mortgage bonds as you can see from the mortgage bond chart below but bonds were able to show some resilience and rebound higher to end the week about where they started. We are recommending FLOATING your Delaware Mortgage Rate to start the week as bonds are showing a short term trend of moving higher which may move interest rates lower.