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Mortgage Rates Weekly Update for August 24, 2015

John Thomas August 23, 2015 Tags: , , , , ,

Mortgage Rates weekly market update for the Week of August 24, 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 move lower in recent days as the Stock Market plunged after weak global economic news.  If you take a look at the mortgage bond chart below you can see mortgage bonds were able to rally off support last week and move higher.  BUT with the stock market plunging over 500 points on Friday and mortgage bonds only ending the day up 9 points we are recommending LOCKING Your Mortgage Rate to start the week.  Mortgage bonds failed to move above the 200 day moving average even with the stock market sell off which is a bad sign for mortgage bonds.

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Mortgage Rates Weekly Update for August 10, 2015

John Thomas August 10, 2015 Tags: , , , , ,

Mortgage Rates weekly market update for the Week of August 10, 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 reached the lows not seen since May on Monday last week but then sold off till hit floor of support on Wednesday.  If you look at the mortgage bond chart below you can see bonds were able to rally off support on Wedhttp://delawaremortgageloans.net/wp-admin/post.php?post=5149&action=editnesday.  Bonds ended the week below where they started so mortgage interest rates did rise but with mortgage bonds rallying off support, we are recommending FLOATING your mortgage rate to start the week.

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Delaware First Time Home Buyer Seminar August 29, 2015

John Thomas August 9, 2015 Tags: , , , ,

Delaware Home-Buyer Seminar

There will be a First Time Home Buyer Seminar on Saturday August 29, 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.

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Mortgage Rates Weekly Update for August 3, 2015

John Thomas August 2, 2015 Tags: , , , , ,

Mortgage Rates weekly market update for the Week of August 3, 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 finally able to reverse the trend and move lower last week as mortgage bonds broke through a tough ceiling of resistance.  If you look at the mortgage bond chart below, you can see the blue arrow shows the short term trend is now for bonds to move higher which moves mortgage interest rates lower.  The big green candle on Friday shows bonds closing above a huge resistance that has turned bonds lower in the past which had created a “triple top” at 103.68 which is a technical signal for bonds to sell off and move lower if don’t break through this top.  Since we broke through the triple top and closed above it at 103.84, it is a good sign for mortgage bonds to now use this previous resistance as support.  We are recommending FLOATING your Mortgage Rate to start the week but be cautious as we get close to Friday as the Jobs Report for July could be a market mover.

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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.

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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.

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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.

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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.

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