Mortgage Rates weekly market update for the Week of May 4, 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 jumped higher to end the week last week as mortgage bonds sold off. If you look at the mortgage bond chart below you-you can see the short term trend is now for mortgage bonds to sell off and move mortgage rates higher as shown with the blue line downward. Mortgage bonds sold off on Friday as the US Stock Market Rallied so with the short term trend for bonds to move lower, we are recommending LOCKING your Mortgage Rate to start the week.