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Mortgage Rate Weekly Update for April 24, 2017

John Thomas April 24, 2017 Tags: ,
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Mortgage Rate Weekly Update for April 24, 2017

Mortgage Rate Weekly Update for April 24, 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 about where they started which is almost the lows for the 2017.  If you look at the mortgage bond chart below you can see mortgage bonds have rallied higher since hitting the lows of the year in the middle of March.  Mortgage bonds are now at a very tough ceiling of resistance which they failed to break and stay above this week which means going to be tough for bonds to move higher from here and move mortgage interest rates lower.  We are recommending LOCKING Your mortgage rate to start the week as mortgage rates are at lows for 2017 and could move higher in the short terms if mortgage bonds sell off.

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Mortgage Rates Weekly Update for April 10 2017

John Thomas April 10, 2017 Tags: ,

Mortgage Rates Weekly Update for April 10, 2017

Mortgage Rates Weekly Update for April 10, 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 slightly higher after failing to move lower on Friday.  If you look at the mortgage bond chart below you can see mortgage bonds moved higher on Monday and then traded sideways until Friday.  Bonds made a run at tough overhead resistance on Friday but were turned lower and ended the week down with the red candle on Friday.  We are recommending very carefully FLOATING your mortgage rate to start the week to see if bonds can make another run at tough overhead ceiling of resistance but be on guard because last time failed to break above resistance bonds switch trading pattern to selling off and moving interest rates higher.

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Mortgage Rates Weekly Update for March 20 2017

John Thomas March 19, 2017 Tags: ,
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Mortgage Rates Weekly Update for March 20, 2017

Mortgage Rates Weekly Update for March 20, 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 moved lower as mortgage bonds were able to rebound last week after the Federal Reserve raised their Fed Funds Rate.  If you look at the mortgage bond chart below you can see mortgage bonds were able to bounce off multi-year lows after Fed Hike and now have hit a tough ceiling of resistance.  We are looking to see if we can repeat the trend from the December Rate Hike where bonds rallied higher so we recommend FLOATING Your mortgage rate to start the week to see if mortgage bonds can rally and break above resistance.

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Mortgage Rates Weekly Update for March 13, 2017

John Thomas March 12, 2017 Tags: ,
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Mortgage Rates Update for March 13, 2017

Mortgage Rates Update for March 13, 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 jumped higher last week to the highs seen in mid December as the improving economy and higher inflation caused mortgage bonds to sell off.  If you look at the mortgage bond chart below you can see mortgage bonds broke through floor of support on Wednesday and sold off to find support at the lows seen in December.  Since mortgage bonds were able to rally off support on Friday we are recommending FLOATING your mortgage rate to start the week to see if bonds can recover.

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Mortgage Rates Update for March 6 2017

John Thomas March 4, 2017 Tags: ,
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Mortgage Rates Update for March 6, 2017

Mortgage Rates Update for March 6, 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 Moved Higher last week as mortgage bonds sold off all week.  If you look at the mortgage bond chart below you can see mortgage bonds sold off on Monday after hitting tough ceiling of resistance on previous Friday.  Mortgage Bonds continued to see off all week until finally finding a floor of support on Friday and closing with a green candle on the chart.  Bonds were able to close above support into the middle of the trading channel so we are recommending FLOATING your mortgage rate to start the week.

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DSHA SMAL Down Payment Assistance Loan

John Thomas March 3, 2017 Tags: ,
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DSHA SMAL Down Payment Assistance Loan Program

DSHA SMAL Down Payment Assistance Loan Program is a Delaware Down Payment Program for qualified Delaware home buyers who meet the income restrictions and credit requirements.  The Delaware State Housing Authority Small Mortgage Assistance Loan (SMAL) program is a second mortgage loan of up to $8,000 at 3% interest for the term of the loan.  You can apply for a SMAL loan by calling 302-703-0727 or online at SMAL Loan Application

What are the qualifications for a DSHA SMAL Loan?

In order to apply for a DSHA SMAL down payment assistance loan you must meet the following requirements:

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Mortgage Rate Weekly Update for February 27 2017

John Thomas February 26, 2017 Tags:
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Mortgage Rate Weekly Update for February 27, 2017

Mortgage Rate Weekly Update for February 27, 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 Rate were able to move lower to end the week as mortgage bonds were able to rally higher.  If you look at the mortgage bond chart below you can see mortgage bonds were able to rally higher off support and ended the week at a level of resistance.  We are recommending LOCKING your mortgage rate to start the week to take advantage of the recent move lower along with mortgage bonds facing a stiff overhead resistance which turned bonds lower the last time they tested this level.

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Mortgage Rates Weekly Update for February 6, 2017

John Thomas February 6, 2017 Tags: ,
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Mortgage Rates Weekly Update for February 6, 2017

Mortgage Rates Weekly Update for February 6, 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 were able to end the week slightly lower than where they started the week.  If you look at the mortgage bond chart below you can see mortgage bonds have been trading in a tight band between the blue lines for the past several weeks.  Mortgage bonds were able to bounce off support from the bottom blue line and move higher as you can see with the green candles at the end of the week.  We are going to recommend FLOATING Your Mortgage Rate to start the week to see if bonds can rally higher after bouncing off support.

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