Mortgage Rates Weekly Update for October 1, 2018
Mortgage Rates Update for October 1, 2018 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 were able to finally able to move lower last week after mortgage bonds rallied higher from a floor of support. If you look at the mortgage bond chart below you can see mortgage bonds had been selling off since end of August but finally found a floor of support on September 24, 2018 and were able to rally higher last week. But mortgage bonds sold off on Friday and ended the week with a red candle which formed a very bad technical signal so we are recommending LOCKING your mortgage rate to start the week.