(302) 703-0727

(302) 703-0727

Mortgage Rates Weekly Update for July 6, 2015

John Thomas July 6, 2015 Tags: , , , , ,

Mortgage Rates weekly market update for the Week of July 6, 2015 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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 have been on a long term trend of moving higher since the middle of April 2015.  Last week mortgage bonds were able to bounce of the lows of 2015 but still remain below the 25 day moving average which is capping bonds from moving higher.  The bonds did rally on Friday after the Jobs Report was released.  The crisis in Greece is helping the bond markets and the “No” vote on Sunday is going to help boost the bond market as the stock market should sell off on the news.  We are recommending FLOATING Your Mortgage Rate to start the week to see if mortgage bonds can rally of the news from Greece and move above the 25 Day Moving Average.

Keep Reading...

Mortgage Rates Weekly Update for June 29, 2015

John Thomas June 28, 2015 Tags: , , , , ,

Mortgage Rates weekly market update for the Week of June 29, 2015 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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 Continued to move higher last week as mortgage bonds sold off on news of a bailout being reach for Greece.  If you look at the mortgage bond chart below you can see mortgage bonds continued their downward spiral as investors dumped mortgage bonds in favor of stocks as the European Union seems to have reached a deal to keep Greece from defaulting on its debt.  We have been recommending LOCKING Your Mortgage Rate as the bonds continue to sell off.  Bonds were able to hold a line of support on Friday so you can start the week carefully FLOATING if you didn’t take our advice and LOCK last week.  If bonds break below support, we would again quickly switch to a LOCKING stance.

Keep Reading...

Mortgage Rates Weekly Update for June 8, 2015

John Thomas June 7, 2015 Tags: , , , , ,

Mortgage Rates weekly market update for the Week of June 8, 2015 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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 Moved Higher last week as the bond market reversed the trend from the previous week and sold off.  If you look at the mortgage bond chart below, you can see the trend is now for mortgage bonds to sell off and move lower which will move mortgage interest rates higher.  The big red candle down on Friday was after the better than expected jobs report was released.  The bond closed below key technical levels which if the bond doesn’t recover this week could foretell higher interest rates in the near future.  We are recommending LOCKING Your mortgage rate to start the week as the short term trend is for rates to move higher.

Keep Reading...

Mortgage Rates Weekly Update for June 1, 2015

John Thomas May 31, 2015 Tags: , , , , ,

Mortgage Rates weekly market update for the Week of June 1, 2015 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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  were able to rebound lower last week as mortgage bonds rallied on lower stock prices.  If you look at the mortgage bond chart below you can see mortgage bonds moved higher last week after bouncing off the lows of 2015.  We are recommending FLOATING Your Mortgage Rate to start the week to see if mortgage bonds can continue to rally higher moving interest rates lower.

Keep Reading...

Mortgage Rates Weekly Update for May 25, 2015

John Thomas May 25, 2015 Tags: , , , , ,

Mortgage Rates weekly market update for the Week of May 25, 2015 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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 rose last week after the previous week’s move lower.  If you look at the mortgage bond chart below you can see mortgage bonds sold off Monday and Tuesday to start the week which moved mortgage interest rates higher.  Bonds broke below the 200 day moving average and below the 2 year long term trend line on Tuesday.  This could have been very bad for mortgage rates but bonds were able to rally higher on Wednesday and close above the 200 day moving average.  Mortgage bonds ended the week above the 200 days moving average so we are recommending FLOATING Your mortgage rate to start the week to see if bonds can move higher off the 200 day moving average and move interest rates lower.

Keep Reading...

Mortgage Rates Weekly Update for May 18, 2015

John Thomas May 17, 2015 Tags: , , , , ,

Mortgage Rates weekly market update for the Week of May 18, 2015 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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 were able to finally move lower after two weeks of moving higher.  If you look at the mortgage bond chart below you can see mortgage bonds were finally able to find a level of support on Thursday and bounce higher.  A good technical sign is the bond being able to move above the 200 day moving average on Friday and close above it.  This is a bullish signal for bonds so we are recommending FLOATING your mortgage rate to start the week.

Keep Reading...

Mortgage Rates Weekly Update for May 4, 2015

John Thomas May 3, 2015 Tags: , , , ,

Mortgage Rates weekly market update for the Week of May 4, 2015 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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 jumped higher to end the week last week as mortgage bonds sold off.  If you look at the mortgage bond chart below you you can see the short term trend is now for mortgage bonds to sell off and move mortgage rates higher as shown with the blue line downward.  Mortgage bonds sold off on Friday as the US Stock Market Rallied so with the short term trend for bonds to move lower, we are recommending LOCKING your Mortgage Rate to start the week.

Keep Reading...

Delaware First Time Home Buyer Seminar May 30 2015

John Thomas May 2, 2015 Tags: , , ,
featured image

Delaware Home-Buyer Seminar

There will be a First Time Home Buyer Seminar on Saturday May 30, 2015 at 10:00 AM till Noon. The seminar will last about 2 hours and each participate will be able to receive a copy of their credit report. The seminar will cover all of the basics of buying a home in Delaware. The seminar will cover FHA loans, VA loans, USDA Rural Housing Loans, First Time Home Buyer Loan Programs and the FHA 203k Rehab loans.

The Seminar is sponsored by The Neighborhood House so each participant will receive home buyer counseling credit toward the required HUD approved home buyer counseling required for Delaware First Time Home Buyer Programs.

Keep Reading...