Mortgage Rates Weekly Update for September 10, 2018
Mortgage Rates Update for September 10, 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 ended the week higher as mortgage bonds sold off on Friday after the August Jobs Report was released. If you look at the mortgage bond chart below you can see mortgage bonds started the week on Tuesday by selling off and continued on Wednesday but were able to find a floor of support and produce a good technical signal that was followed through on Thursday with a rally shown with the green candle. Mortgage bonds on Friday sold off and gave back all the gains after the jobs report was released. Mortgage bonds broke through the floor of support at the 100 day moving average and broke through another floor of support set back on August 3rd. With more room to the downside for mortgage bonds, we are recommending LOCKING your mortgage rate to start the week to protect yourself from mortgage interest rates moving higher.