Mortgage Rates Weekly Update for January 7, 2019
Mortgage Rates Update for January 7, 2019 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 moved lower again last as mortgage bonds rallied and broker through another ceiling of resistance. If you look at the mortgage bond chart below, you can mortgage bonds have been on an upward trend since reversing course on November 8, 2018. Bonds started the new year at the highs of 2018 as we moved into 2019. Mortgage bonds did end the week by moving lower from the high after a very strong jobs report and ended in the middle of the trading range. Bonds have more room to the downside before reaching a floor of support and with the stock market rallying to end the week, we are recommending LOCKING your mortgage rate to start the week to take advantage of the best mortgage interest rates seen in almost a year.