30-yr Fixed Rate Mortgages Testing Key Support

Mortgage Rates

Mortgage rates will send signal to entire real estate sector

If you’re in the market to purchase a home, what happens here with mortgage rates, which broke out late last year from a 30-year downtrend, might impact the timing of your purchase. Rates have been falling since the December Fed rate hike, but if support of the falling trend line holds, this would would signal higher rates ahead. If support breaks, we could very easily retest the prior lows, or perhaps head even lower, which would likely put a tailwind behind the entire real estate sector, both retail and commercial.

Charts made with Optuma Software

About the author

I am the founder of fibonacci.com and an avid trader. I am also the co-founder of Texas Precious Metals, a top US precious metals company. In 2006 I was a contestant on The Apprentice with future president, Donald Trump. I live in Coeur D'Alene, Idaho, with my wife and six children, where I spend my time hiking, charting, and changing diapers.

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