Delaware Mortgage Rates – August 14, 2008
This is my daily advice on whether to lock or float your Delaware Mortgage Rate for Thursday, August 14, 2008.
The CPI report came out today worse than expected at 0.1% higher. This caused an initial reaction for mortgage-backed securities to trade lower but they again tested a very strong resistance at 99.15 and have since bounced up some. And are now higher than we ended the day yesterday. The rest of the day will probably take its que from how stocks are trading.
My recommendation is to continue to float as we are more than likely bouncing off our low for the year for mortgage-backed securities. If you look at the graph below you can see where I recommended to LOCK in your mortgage rate yesterday at the high, if you missed the opportunity then you can see where we are bouncing off the lows and can float as we rise back up.