(302) 703-0727

(302) 703-0727

Delaware Mortgage Rates – Market Update – July 22, 2008

John Thomas July 22, 2008

Here are the daily thoughts on floating or locking your Delaware Mortgage Rate.

As always – consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.

In Philadelphia today, Fed Posser made comments about higher inflation and a need for a rate hike by the Feds coupled with Bank after Bank reporting horrible earnings has caused a sell-off in Mortgage Backed Securities. Bonds have given back all of their gains from yesterday.

Bonds are now at the lowest point of all of 2008, which means Delaware Mortgage Rates are at the highest they have been all year. Lenders are going to reprice for the worse because Bonds have ticked down from when opened this morning as money moves from Bonds to Stocks. Keep Reading...

Wachovia Leaves Wholesale Mortgage Lending Business – July 21, 2008

John Thomas July 21, 2008

Wachovia Corporation announced on Monday, July 21, 2008, that it was shutting down its wholesale mortgage business. Beginning July 25, 2008, Wachovia will no longer be offering mortgages through mortgage brokers.  Wachovia is the nation’s 4th largest bank and this move follows some other banks such as Bank of America which closed its wholesale division months ago. Washington Mutual is another big bank that closed its wholesale division. National City is another big bank that closed down its wholesale division. Keep Reading...

First Time Home Buyer Seminar – Still Room Left for July 26, 2008

John Thomas July 21, 2008

There is still room left for the Free Delaware First Time Home Buyer Seminar on July 26, 2008, at 10:00 AM at Primary Residential Mortgage’s Office in Newark, Delaware. Come learn about Delaware First Time Home Buyer Programs.  Learn about Delaware FHA Loans, Delaware VA Loans, and Delaware USDA Loans.

We will show you how to buy a home in Delaware and still get 100% financing. We will show you how to get a bad credit mortgage. We will give you tips on improving your credit score and give you the option of being pre-approved after the seminar. Keep Reading...

Delaware Mortgage Rates – Market Update – July 21, 2008

John Thomas July 21, 2008

Here are the daily thoughts on floating or locking your Delaware Mortgage Rate.

As always – consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.

The mortgage bonds are down again this morning and have broken through levels of support. Stocks are up some this morning which is pressuring bonds slightly lower. There is much economic news this week, the only thing affecting markets this week is a release of corporate earnings. If earnings come in better than expected than the stock market will continue its rally and this will force Mortgage Bonds lower and force Delaware Mortgage Rates higher. If earnings are worse than that could reverse the rally and allow Delaware Mortgage Rates to fall. Keep Reading...

Financial Market Update – July 21, 2008

John Thomas July 21, 2008

THE MARKETS:

Volatility remains the watchword on Wall Street. At least this week the volatility was the kind people like, positive volatility. The Dow was up 3.57% (down 13.33% for the year) and the S & P 500 was up 1.71% ( down 14.14% for the year).

CITIBANK BEATS EXPECTATIONS: Citigroup lost $2.5 billion and still beat analysts’ expectations. This amounted to a loss of 54 cents per share, in the April-June period. Analysts were predicting losses in the mid-60 cents per share.  In the same timeframe last year, the bank earned $6.23 billion, or $1.24 per share. Keep Reading...

Delaware Mortgage Rates – Market Update – July 18, 2008

John Thomas July 18, 2008

Here are the daily thoughts on floating or locking your Delaware Mortgage Rate.

As always – consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.

Mortgage Backed Securities opened this morning down even more than they ended yesterday. If you have a Delaware purchase loan that you have been floating hopefully you took my advice and locked it in yesterday.

The rate will be worse again today when lenders come out with their Delaware Mortgage Rates. If you are looking to refinance into a lower rate than you will need to wait for a while till mortgage bonds find their bottom. Historically rates reach their peak in the middle of summer than get better into the fall. So this fall might be a great time to refinance your Delaware Mortgage into a lower rate. Keep Reading...

Newark Delaware Mortgages

John Thomas July 17, 2008

Newark Delaware Mortgages

If you are looking for a Newark Delaware Home Loan, then John R. Thomas is a certified mortgage planner who can help you find the best rate, term, and loan product to meet your short term and long term financial goals and to make sure the new mortgage fits into your current financial plan to help you create wealth and minimize taxes. If you are looking to purchase or refinance a home in Newark, Delaware then give John a call at 302-703-0727 or you can APPLY ONLINE HERE.

If you are a Newark Delaware First Time Home Buyer then please check out our First Time Home Buyer Seminar that we hold every month at www.DelawareMortgageLoans.net/seminars Keep Reading...

Delaware Mortgage Rates – Market Update – July 17, 2008

John Thomas July 17, 2008

Here are the daily thoughts on floating or locking your Delaware Mortgage Rate.

As always – consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.

Today is going to be another bad day for mortgage-backed securities which means mortgage rates are going to be higher again today with the potential for recipes for the worse through-out the day. Stocks are continuing to rally from yesterday putting more pressure on the bonds. Technical data also predicted a sell-off in bonds. Keep Reading...