Mortgage Rates Weekly Update for August 4, 2019
Mortgage Rates Update for August 4, 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 last week as mortgage bonds rallied after the Federal Reserve announced 0.25% reduction in Feds Funds Rate. If you look at the mortgage bond chart below you can mortgage bonds were able to break through tough ceiling of resistance last week and rally much higher moving mortgage interest rates to the lowest seen in 2.5 years. Mortgage bonds are sitting just below next ceiling of resistance and with US Treasuries making a run at lower yields, we are recommending carefully FLOATING Your mortgage rate to start the week to see if mortgage bonds can make a run at the resistance level.