Mortgage Rates Weekly Update for July 31, 2017
Mortgage Rates Weekly Update for July 31, 2017 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. 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 lower than they started after failing to stay above the 50 day moving average on Monday but were able to rally to end the week just below the 50 day moving average. If you look at the mortgage bond chart below you can see mortgage bonds are trading in a tight range between the blue lines to end the week. It is going to be tough for bonds to break above the 50 day moving average in the short term so we are recommending LOCKING Your mortgage rate to start the week to take advantage of the rally off support on Friday for mortgage bonds.