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Maine Condo Blog

Mortgage Rate Forecast with Chart

11/25/2015

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For the week, the FNMA 30-year 3.5% coupon bond ($103.31, +12.5 bp) traded within a narrower 44 basis point range between a weekly intraday high of 103.52 and a weekly intraday low of $103.08 before closing at $103.31 on Friday. After trending higher Monday through Thursday, the bond reversed course on Friday in a move toward support located at the 38.2% Fibonacci retracement level at $103.16. Friday’s negative action sent the bond lower to touch its ascending lower trend line. This line is formed by connecting the intra-day lows from the low on November 10 onward to form the lower trend line. A break below this line would be considered a bearish event. The slow stochastic oscillator is showing a loss of momentum and is flattening out, suggesting the bond could subsequently trade sideways and be range-bound between support and resistance located at the 100-day moving average at $103.67. As a result, we shouldn’t see much change in rates this coming Thanksgiving holiday week that will be characterized by lower than average trading volume.

Chart: FNMA 30-Year 3.5% Coupon Bond

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  • Home
  • Testimonials
  • Condo Communities
    • The Bay House
    • Blueberry Cove, Yarmouth
    • Carroll Mansion Condos
    • Chandlers Wharf
    • Chestnut Street Lofts
    • 25 High St
    • Hobstone Condos
    • Kimball Court
    • 118 on Munjoy Hill
    • Munjoy Heights
    • Newbury Lofts
    • Promenade East Condos
    • The Portland House
    • The Residences at 10 Exchange
    • The Storer Building
    • Waterview at Bayside
    • 133 York Street
  • News
  • Search