Mortgage Interest Rates Weekly Update May 16 2016
Mortgage Interest Rates weekly update for the Week of May 16, 2016 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 Interest Rates remain at 3 year record lows! Now is the best time to refinance or purchase a home in a very long time. If you look at the mortgage bond chart below you can see bond prices have been capped by the blue line since February. Every time the bond has hit the blue line it has been turned lower which means rates would move higher so we are recommending LOCKING your mortgage interest rate at these record lows unless the bond can close above that blue line.