Mortgage Rate Weekly Update for July 17, 2017
Mortgage Rate Weekly Update for July 17, 2017 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. 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 were able to once again move lower last week after moving higher for several weeks in a row. If you look at the mortgage bond chart below you can see mortgage bonds were able to rebound higher last week after bouncing off a floor of support. Mortgage bonds failed to break above a tough ceiling of resistance on Friday after a strong rally and fell back down to end the day so we are recommending LOCKING your mortgage rate to take advantage of the move lower in interest rates as mortgage bonds will continue to face a very touch ceiling of resistance.