Maryland Mortgage Rates Weekly Market Update for the Week of December 30, 2013 from John R. Thomas with Primary Residential Mortgage in Towson, Maryland. John is the author of the book, Your Guide to Purchasing Your First Home in Maryland. Call 410-412-3319 to get a free mortgage planning consultation or APPLY ONLINE for Maryland mortgage loan.
Maryland Mortgage Rates moved higher last week after selling off when Federal Reserve announced it would begin tapering QE3 program in January 2014. If you look at the mortgage bond chart below, you can see the long term trend for mortgage bonds is for them to sell off and move mortgage rates higher. In the short term, mortgage bonds did find a floor of support at 102.49 and were able to bounce off of it on Friday with the green candle on the chart. We are going to recommend FLOATING your Maryland Mortgage Rate to start the week to see if we can get a short term rally in the bonds to move interest rates lower. If the bond turns and sells off and breaks below support, we would quickly switch to LOCKING your Maryland Mortgage Rate.
The Next Free Maryland first Time Home Buyer Seminar is Saturday January 25, 2014 in Towson, Maryland. Register by calling 410-412-3319 or Register online at http://www.MarylandHomeBuyerSeminars.com
John R. Thomas
Certified Mortgage Planner – NMLS 38783
Primary Residential Mortgage, Inc. – Baltimore Maryland Mortgage Company
1220A East Joppa Rd
Towson, MD 21286
410-412-3319 MD Office