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Mortgage Rate Weekly Update for January 30, 2017

John Thomas January 29, 2017 Tags: ,
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Mortgage Rate Weekly Update for January 30, 2017

Mortgage Rate Weekly Update for January 30, 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 as stock markets hit record levels.  If you look at the mortgage bond chart below you can see the trend is for mortgage bonds to sell off but bonds were ale to find a floor of support on Thursday and ended the week with a green candle so we are recommending FLOATING your mortgage rate to start the week to see if mortgage bonds can recover.

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Mortgage Rates Weekly Update January 23, 2017

John Thomas January 23, 2017 Tags: ,

Mortgage Rates Weekly Update for January 23, 2017

Mortgage Rates Weekly Update for January 23, 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 after reports of higher inflation.  If you look at the mortgage bond chart below you can see mortgage bonds were turned lower last Monday with the red candle following the previous Friday’s attempt to move higher.  Mortgage bonds then sold off the rest of the week until finding a bottom on Thursday and moving higher on Friday with a Green Candle. We are recommending FLOATING Your mortgage rate to start the week to see if bonds can recover from the sell off and move back higher which would move mortgage rates lower.

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Mortgage Interest Rates Weekly Update 1-16-2017

John Thomas January 16, 2017 Tags: ,
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Mortgage Interest Rates Weekly Update for 1-16-2017

Mortgage Interest Rates Weekly Update for January 16, 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 Interest Rates ended the week slightly higher as mortgage bonds sold off on Thursday and Friday to end the week.  If you look at the mortgage bond chart below you can see Mortgage bonds have reversed their upward trend and are now trending lower after being turned lower at a tough ceiling of resistance.  We are recommending LOCKING your mortgage interest rate to start the week to lock in the gains we have seen the last couple of weeks with a tough over head ceiling of resistance putting a cap on mortgage bonds.

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FHA Mortgage Insurance Premium Reduced January 27, 2017

John Thomas January 9, 2017 Tags: ,
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FHA Mortgage Insurance Premium

FHA Mortgage Insurance Premium Reduced January 27, 2017

FHA Mortgage Insurance Premium reduced January 27, 2017 by 0.25% on new FHA Loans.  Monday January 9, 2017 HUD secretary Julian Castro announced FHA will reduce the annual mortgage insurance premium most borrower’s pay by 0.25% for new FHA loans originated on/or after January 27, 2017.  Call 302-703-0727 to apply for a FHA Loan or APPLY ONLINE

2016 marked the fourth consecutive year that the FHA Mutual Mortgage insurance fund has grown and now has sufficient reserves with the capital ratio at 2.32 percent of all insurance in force which is above the 2% requirement.  The drop in mortgage insurance premium comes at a time when consumers are facing higher credit costs as mortgage rates are increasing.

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Mortgage Rates Weekly Update for January 9 2017

John Thomas January 8, 2017 Tags: ,
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Mortgage Rates Weekly Update for January 9, 2017

Mortgage Rates Weekly Update for January 9, 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 last week as mortgage bonds were able to continue to rally for the second straight week.  If you look at the mortgage bond chart below you can see mortgage bonds have been moving up since about December 20, 2016 after hitting the lowest point for bonds in 2 years and the highest point for mortgage interest rates.  Bonds found floor of support and were able to rally higher and broke through ceiling of resistance.  Mortgage bonds have stopped at ceiling of resistance and were turned lower.  We are looking for bonds to make another run at breaking through the ceiling of resistance so we are recommending FLOATING your mortgage rate to start the week.

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Mortgage Rates Update for December 19 2016

John Thomas December 18, 2016 Tags: , , ,
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Mortgage Rates Update for December 19, 2016

Mortgage Rates Update for December 19, 2016 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 set another record high for 2016 last week as mortgage bonds continued to sell off.  If you look at the mortgage bond chart below you can see mortgage bonds broke below support on Wednesday after Federal Reserve announced it was raising Fed Funds Rate.  The big red candle stretched all the way down to the next level of support.  We are recommending FLOATING your mortgage rate to start the week to see if mortgage bonds can rebound off support and move higher to move interest rates lower.  Now is the time to get out and buy a home as the longer your wait, the higher the rates will be and the higher the price of the home.

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Mortgage Rates Weekly Update 12-12-2016

John Thomas December 11, 2016 Tags: , , ,
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Mortgage Rates Weekly Update for December 12, 2016

Mortgage Rates Weekly Update for December 12, 2016 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 trying to rallying off support but falling to sustain after stock market has two days of record highs.  If you look at the mortgage bond chart below you can see mortgage bonds have been trading in a “down escalator” pattern trading between the two green lines.  Mortgage bonds tried to break out of the pattern higher which would have moved interest rates lower but were pulled back on Friday.  Mortgage bonds ended on Friday just above support so we are recommending FLOATING your mortgage rate to start the week to see if mortgage bonds can bounce higher off support and move mortgage interest rates lower.

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New Castle County IDEA Down Payment Program

John Thomas December 9, 2016 Tags: , ,
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New Castle County IDEA Down Payment Program

A Delaware down payment assistance program that provides loans up to $5,000 at 0% interest is the New Castle County IDEA Down Payment Program.  IDEA stands for Innovative Development Empowerment Area and is a down payment and settlement assistance program to help home buyers purchasing homes in eligible census tracs in New Castle County Delaware.  Call 302-703-0727 to apply for the program or APPLY ONLINE

What is the New Castle County IDEA Program?

The IDEA provides home buyers with second mortgage loans at 0% for the purchase of homes in approved census trac areas for down payment and/or settlement assistance.  It is a 10 year loan at 0% interest with no required payments for the first year of the program then the loan will be paid back during the remaining 9 years on a monthly basis.

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