Mortgage Rates Weekly Update October 17, 2016
Mortgage Rates weekly update for the Week of October 24, 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 Rates were finally able to move slightly lower last week as mortgage bonds were able to rebound off support. If you look at the mortgage bond chart below, you can see mortgage bonds had been trading lower for last couple of weeks but were finally able to find a floor of support last week and move higher but have hit a tough ceiling of resistance that will be very difficult to break above so we are recommending LOCKING Your Mortgage Rate to start the week to lock in the slightly better rates we saw at the end of last week.