Delaware mortgage rate weekly update for the week of May 14, 2012, by John R. Thomas from Primary Residential Mortgage in Newark, Delaware. John is the branch manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to schedule a free mortgage planning consultation or APPLY ONLINE for Delaware Mortgage Loan.

Delaware Mortgage rate weekly update by John Thomas

Delaware Mortgage Rates are still at all-time historic lows after bad news comes out of Europe last week. France elected a new president and this is the 9th new leader for the Eurozone. Greece is also back in the news and has failed to get a new government that can institute the austerity measures required for their bailout. Also in the news, the National Association of Realtors released two reports. The first report said in the 1st quarter of 2012, 74 of 146 metro cities surveyed had home prices rise. NAR also stated the inventory of existing homes for sale has decreased by 22% since this time last year and it is 41% lower than in 2007 when inventories were at the peak.

USDA also released information that it will begin using the 2010 census to determine property eligibility in October 2012 for USDA Rural Housing Loans. This will probably cut in half the number of homes that are eligible for the program and could have a negative impact on the housing recovery. There is a bill in the Senate right now to extend current property eligibility till September 2013 so encourage your senators to vote for this bill.

New Castle County has stated it will no longer exempt Freddie Mac and Freddie Mae from the transfer tax effective June 14, 2012. So please read the full report at New Castle County Transfer Tax update.

Free Delaware First time home buyer Seminars are scheduled for May 19, 2012, in Newark, Delaware and May 22, 2012, in Dover, Delaware. You can register by calling 302-703-0727 or register online at Delaware First Time Home Buyer Seminars.

Free Maryland First time Homebuyer seminar is scheduled for June 30, 2012, in Towson, Maryland. You can register by calling 410-412-3319 or online at Maryland First Time Home Buyer Seminars

If you would like to refinance or purchase a home in Delaware, Maryland, or Pennsylvania then give us a call at 302-703-0727 to schedule a free mortgage consultation or APPLY ONLINE.

John R. Thomas – NMLS 38783

Certified Mortgage Planner – Primary Residential Mortgage, Inc.

302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office

248 E Chestnut Hill Rd, Newark, DE 19713