(302) 703-0727

(302) 703-0727

IndyMac Bank is Taken over by the Government

John Thomas July 13, 2008

IndyMac Bank was seized by the Federal Government on July 11, 2008. All of its assets were seized and its retail branches were closed. The bank will reopen on Monday under the control of the FDIC. The bank has been in trouble because of its exposure to the subprime lending crisis and the mortgage market meltdown. IndyMac CEO had released a plan to save the bank then a US Senator made some public remarks encouraging the US Government to bail the bank out, once his comment was released to the public, depositors made a run on the bank to remove their money. This caused the bank to fail. Keep Reading...

Delaware First Time Homer Buyer Seminar – July 26th

John Thomas July 12, 2008
There will be a Free Delaware First Time Home Buyer Seminar on Saturday, July 26, 2008, at 10:00 AM.  The seminar will last about 2 hours and each participant will be able to receive a free copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new home in Delaware. The seminar will cover Delaware FHA loans, Delaware VA loans, My Community loans, First Time Home Buyer Loan Programs, and the Delaware USDA Rural Housing Program. Each participant will receive a Free Audio CD on Credit Scoring, Credit Scoring Handbook, Homebuying Handbook, and an opportunity to meet with a mortgage planner to be pre-approved to buy a home at the seminar. You will also learn the importance of credit in buying a home and learn valuable tips on how to improve your credit score. Learn what programs are available to help with down payment and closing costs. The new loan limits for conventional and FHA will be covered as well as changes to borrowing 100% financing.The Seminar is being held at 256 Chapman Rd, Suite 105, Newark, DE 19702.

To register for the seminar, please call 302-368-7132 Ext 12 and ask for John Thomas.

If you would like to apply for a Mortgage Loan, you can APPLY ONLINE HERE, you can call John Thomas at 302-703-0727.

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

Delaware Mortgage Rates – Update July 11, 2008

John Thomas July 11, 2008

Delaware Mortgage Rates saw improvement throughout the week but gave back some of the gains today. There was a big sell-off in mortgage back securities which drove the binds down below technical support. This has caused lenders to reprice for the worse. So hopefully your mortgage professional called you earlier today to lock in your Delaware Mortgage Rate.

The sell-off may be some profit taking from the run-up this past week, so we may see rates improve some next week, but with the market being as volatile as it is, you might want to consider locking in now if you are afraid the sell-off will continue into Monday. I have advised all my clients to lock this morning. If you haven’t heard from your mortgage professional today, please feel free to contact me about your Delaware Home Loan Rate. I can help you with Delaware FHA loans, Delaware VA loans, Delaware First Time Home Buyer programs, and Delaware USDA Loans. Keep Reading...

Weekly Financial Market Update – June 30, 2008

John Thomas June 30, 2008

THE MARKETS:

June has been a negative month for the equity markets. For the month, the S&P 500 is down 8.7% and the Russell 2000 is down 6.19%. For the quarter, the S&P 500 is down 3.35% and the Russell 2000 is up 1.84%. The Dow Jones AIG Commodity Index is up 9.59% for the month and 27.8% for the year. This is a “long only” index which can be volatile and about which many investors are wary (“How high can it go?”). It has been having an extraordinary run during this bearish equity market. Keep Reading...

Delaware Mortgage Rates – Market Update – June 25, 2008

John Thomas June 25, 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 Bond market today is down so far in the morning waiting on the Fed Decision later today. The market will be extremely volatile awaiting the decision.  We had some nice improvement on rates yesterday but some lenders came out this morning with some worse pricing.

New Home Sales for May came out today at 512,000, which was in line with expectations but was down from April’s report. The median price of a home sold was also down by 5.7 percent from a year ago. The median home price was $231,000. The inventory of unsold homes was up to 10.9 months. Keep Reading...

First Time Home Buyer Seminar – June 28th – Still Room Left!!!

John Thomas June 25, 2008

There are still some seats available for the Free First Time Home Buyers Seminar on Saturday, June 28, 2008, at 10:00 AM.  Please call John Thomas at 302-368-7132 Ext.12 to register or send an e-mail to DelawareMortgages@yahoo.com. The seminar is being held in Newark, DE and will last about 2 hours.

If you would like to apply for a Mortgage Loan, you can APPLY ONLINE HERE, you can call John Thomas at 302-703-0727.

John R. Thomas – NMLS 38783

Certified Mortgage Planner – Primary Residential Mortgage, Inc. Keep Reading...

Delaware Mortgage Rates – Market Update – June 20, 2008

John Thomas June 20, 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.

Little economic news on tap for today. The big news yesterday in China raising the price of fuel for its citizens. This helped bring down the price of oil yesterday. Stocks appear to be set for another drop today – this spells good news for bonds. Stocks Dropped because oil railed today after selling off yesterday. Keep Reading...

Delaware Mortgage Rates – Market Update – June 18, 2008

John Thomas June 18, 2008

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

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

Stocks are trading lower because of a bad earnings report from FedEx and Morgan Stanley.  This is more news supporting that we are in a recession or sliding into one depending on who you talk to about it. The rates have been higher lately because of the fear of inflation.

Mortgage Bonds are trading higher on the news which means rates could potentially get better.  The market could change at a moments notice because of the volatility. I am recommending floating right now but would be ready to lock if stocks or bonds change their direction. Keep Reading...