Mortgage Rates Weekly Update for August 27, 2018
Mortgage Rates Update for August 27, 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 about where they started after failing to break above tough ceiling resistance. If you look at the Fannie Mae 4.0% Mortgage Bond Chart below you can see mortgage bonds have been on an upward trend since bouncing off a floor of support on July 30th. Mortgage bonds has been capped at very strong ceiling of resistance that bonds have not been able to break above since May but have come up against 4 times this week. If mortgage bonds can break above this ceiling of resistance it would be significant and would mean a big potential upside for bonds so we are recommending FLOATING Your mortgage rate to start the week.