Tag Delaware Real Estate

Tag Delaware Real Estate

Delaware Real Estate Market Update for December 2013

John Thomas January 7, 2014 Tags: , , , ,
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Delaware Real Estate Market Update for December 2013

The monthly update on the local real estate market in Wilmington, Chester, Cecil County Areas from John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware.

New Castle County, Delaware

New Castle County recorded a 3% increase in homes sold year over year.  The median home price of homes sold increased from $185,000 to $198,000 which is a 7% increase.  The total number of homes that went under contract to be sold in the first eleven months of 2013 increased 4% from 2012.  This shows that the New Castle County Real Estate Market is a market that is experiencing an increase in home selling activity as well as increase in the value of homes sold.

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Delaware Mortgage Rates Weekly Mortgage Market Update for Week of May 27, 2013

John Thomas May 27, 2013 Tags: , , , , , , ,

Delaware mortgage rates weekly mortgage market update for the week of May 27, 2013 by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John is the Newark, Delaware Mortgage Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware mortgage rates jumped up last week on Wednesday after Ben Bernanke made a speech on the state of the economy and the Federal Reserve Bond Buying Program.  If you look at the mortgage bond chart below you can see the GIANT red candle on Wednesday May 22, 2013.  The Red Candle means mortgage bonds sold off causing home loan rates to move higher.  Mortgage rates have been moving higher since hitting all time record lows on May 1, 2013.  The trend as can be seen from the chart is for mortgage bonds to keep moving lower forcing rates higher.  Mortgage bonds did hold a line of support on Thursday and Friday so we may be seeing a bottom here so we are recommending FLOATING your Delaware mortgage rate to start the week.  But if mortgage bonds break below the line of support and continue trend lower we would recommend switching to a locking stance as interest rates will continue their trek higher.

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Delaware Mortgage Rates Weekly Update for May 20, 2013

John Thomas May 19, 2013 Tags: , , , , , , ,

Delaware mortgage rates weekly market update for the week of May 20, 2013 by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John is the Newark, Delaware Mortgage Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware mortgage rates moved higher again last week as the bond moved lower to the end the week.  You can see the mortgage bond traded up and down last week but finished the week lower but was able to close above a level of technical support.  Home loan rates still remain near record lows as Federal Reserve still buying mortgage backed securities to hold mortgage rates low.  We are recommending FLOATING your Delaware mortgage rate as mortgage bonds have been able to hold above level of support, if bonds sell off below level of support then we will quickly switch to a LOCKING stance.

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Delaware Mortgage Rates Weekly Update for May 6, 2013

John Thomas May 5, 2013 Tags: , , , , , , ,
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Delaware mortgage rate weekly mortgage market update for the week of May 6, 2013 by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John is the Newark, Delaware Mortgage Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan.

Delaware mortgage rates jumped higher on Friday May 3, 2013 after a much better than expect April 2013 Jobs Report was released.  If you look at the bond chart below you can see that mortgage bonds set another all time record high on Wednesday May 1, 2013 which caused mortgage rates to set another all time record low.  Mortgage bonds had been rallying and move rates lower but everything reversed on Friday after the release of the jobs reports.  Mortgage bonds are not trending lower again which will cause mortgage rates to move higher.  The bond did stop falling when it hit the 200 day moving average so we are recommending caustiously FLOATING your Delaware mortgage rate to start the week but if mortgage bonds fall below the 200 day moving average we will quickly switch to a locking stance.

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Delaware Mortgage Rates Weekly Mortgage Market Update for April 29, 2013

John Thomas April 28, 2013 Tags: , , , , , , ,
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Delaware mortgage rate weekly mortgage market update for the week of April 29, 2013 by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John is the Newark, Delaware Mortgage Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan.

Delaware mortgage rates moved back to the all time historic lows on Friday as mortgage bonds jumped higher after the Gross Domestic Product (GDP) for the first quarter of 2013 came in worse than expected at 2.5% versus expectations of about 3.1%.  As you can see from the Mortgage Bond Chart below, mortgage bonds rallied to end the week and set an upward trend for the bond.  This will allow us to recommend caustiously FLOATING your Delaware mortgage rate to start the week.  But locking anything closing in the next 30 days may be prudent.

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Delaware Mortgage Rates Weekly Market Update for April 22, 2013

John Thomas April 21, 2013 Tags: , , , , , , ,

Delaware mortgage rate weekly mortgage market update for the week of April 22, 2013 by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John is the Newark, Delaware Mortgage Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan.

Delaware mortgage rates remained at all time record lows last week as mortgage bonds traded in a tight trading range near all time record highs for the bond. We are recommending LOCKING your Delaware mortgage rate if closing in the next 30 days to start the week as rates are at record lows but bonds could sell off and move rates higher. If closing more than 30 days you can start the week cautiously FLOATING your interest rate but would quickly switch to a locking stance if bond breaks below the 200 day moving average. If you look at the bond chart below you can see that bonds traded in narrow range and ended the week almost where they started. As long as the bond stays above the 200 day moving average rates will stay where they are but if breaks below the 200 day moving average could have sell off and rates could move higher fast. If have been waiting to refinance your Delaware mortgage loan, now is the time to do it before rates move higher.

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Delaware Mortgage Rates Weekly Mortgage Market Update for April 15, 2013

John Thomas April 14, 2013 Tags: , , , , , ,
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Delaware mortgage rate weekly mortgage market update for the week of April 15, 2013 by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John is the Newark, Delaware Mortgage Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan.

Delaware mortgage rates moved higher at the beginning of last week but were able to rebound and move back toward some of the lowest rates of the year for 2013.  As you can see in the Bond Chart below, mortgage bonds sold off to the start the week but were able to bounce off support on Thursday and ended the week almost back to the high for the year for mortgage bonds.  We recommend carefully FLOATING to start the day Monday as mortgage bonds are at the best levels of the year and could fall lower causing home loan rates to move higher.

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Delaware Mortgage Rates Weekly Mortgage Market Update for March 25, 2013

John Thomas March 25, 2013 Tags: , , , , , , ,
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Delaware mortgage rate weekly mortgage market update for the week of March 25, 2013 by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John is the Newark, Delaware Mortgage Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan.

Delaware mortgage rates were able to improve last week as the mortgage bond market continue the rally from the previous.  You can see on the chart below that mortgage bonds have traded in a tight channel since the big sell off in January. We are recommending FLOATING your Delaware mortgage rate to start the week to see if mortgage bonds can move higher and test the resistance at the 200 day moving average.  If bonds open on Monday and make a move lower then we will switch to a LOCKING stance.

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