Mortgage Rates Update Weekly Jan 11 2016
Mortgage Rates update weekly for the Week of January 11, 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 able to move lower last week as the Major Stock Market Indexes have had their worst start to begin a new year on record. If you look at the mortgage bond chart below, you can see mortgage bonds rallied higher last week with the green candles on the chart. The bond closed above the 200 day moving average which had been a strong overhead resistance so we are recommending FLOATING your mortgage rate to start the week to see if bonds can continue to rally.