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Mortgage Rates Weekly Update [July 16 2018]

John Thomas July 15, 2018 Tags: ,
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Mortgage Rates Weekly Update for July 16, 2018

Mortgage Rates Update for July 16, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. 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 were unable to break out above the 100 day moving average last so mortgage rates ended the week about where they started.  If you look at the mortgage bond chart below you can see mortgage bonds traded in a tight channel last week after failing to continue to rally from previous week and fell back below the 100 day moving average.  Bonds closed right at the top of the channel to end the week but failed to break through so we are recommending LOCKING your mortgage rate on any loans closing in the next 30 days, if you are more than 45 days out you could float to see if mortgage bonds can get some momentum to break through the 100 day moving average but if bonds break below the floor of support we would recommend switching to a locking stance. Keep Reading...

Mortgage Rates Weekly Update [July 9 2018]

John Thomas July 8, 2018 Tags: ,
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Mortgage Rates Weekly Update for July 9, 2018

Mortgage Rates Update for July 9, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. 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 were on a roller coaster ride last week due mostly to global trade issues with countries considering back and forth trade tariffs.  If you look at the mortgage bond chart below you can see mortgage bonds hit resistance last week at the 100 day moving average and were turned lower in a sell off on Monday with the red candle. Bonds found floor of support on Tuesday at the 25 day moving average and rallied back higher into the fourth of July holiday.  Mortgage Bonds followed through and rallied higher up to the 100 day moving average on Thursday ahead of the Jobs Report.  After the Jobs report on Friday, bonds were able to finally break above a dual ceiling of resistance they have been battling for weeks which was formed by the 100 day moving average and a technical Fibonacci level.  This is a good sign so we are recommending FLOATING your mortgage rate to start the week to see if bonds can stay above this dual layer and rally higher which would move mortgage interest rates lower. Keep Reading...

Mortgage Rates Weekly Update [July 2 2018]

John Thomas July 3, 2018 Tags: ,
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Mortgage Rates Weekly Update for July 2, 2018

Mortgage Rates Update for July 2, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. 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 were able to move slightly lower last week as mortgage bonds were able to rally off floor of support.  If you look at the mortgage bond chart below you can see that after the red candle on Monday, mortgage bonds rallied higher all week with the green candles.  Mortgage bonds ended the week by breaking through the 50 day moving average and are just beneath a ceiling of resistance at the 100 day moving average.  We are recommending FLOATING Your mortgage rate into July 4th to see if mortgage bonds can break through and continue higher which would move mortgage interest rates lower. Keep Reading...

Mortgage Rates Weekly Update [June 25 2018]

John Thomas June 25, 2018 Tags: ,
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Mortgage Rates Weekly Update for June 25, 2018

Mortgage Rates Update for June 25, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. 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 were finally able to stabilize last week after a roller coaster ride in the past several weeks.  If you look at the mortgage bond chart below you can see mortgage bonds have been sitting just above the 50 day moving average last week.   The technical trading signals formed a Pennant Flag formation and we are looking for mortgage bonds to break out either higher or lower.  There has not been any clear signal this it is breaking out higher yet but as long as the 50 day moving average holds we are recommending FLOATING your mortgage rate to see if mortgage bonds can break out higher and move mortgage interest rates lower. Keep Reading...

Middletown Delaware USDA Loans Update

John Thomas June 21, 2018 Tags:
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Middletown Delaware USDA Loans Update

Middletown Delaware USDA Loans Update – Effective June 4, 2018 Middletown Area in New Castle County Delaware is no longer eligible for USDA Financing. Rural Development bases the property eligibility for a USDA Loan on the population density in an area from the US Census data.  The area of Middletown, Delaware is over the population density limit and has been previously exempted to continue to allow Delaware USDA Rural Housing Loans to be used to purchase or refinance homes but as of June 4, 2018 that exemption is being removed.  If you would like more information or to get pre-approved for a USDA Mortgage Loan to purchase or refinance call us at 302-703-0727 or APPLY ONLINE
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John Thomas Ranked #1 Delaware VA Lender

John Thomas June 19, 2018 Tags:
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Ask a Lender Releases Rankings of The Top VA Mortgage Lenders by City and State

John Thomas has ranked #1 on Ask a Lender’s annual Best VA Lender list for #1 Delaware VA Lender and for #1 Newark, Delaware VA Lender for 2018. Visit our Delaware VA Loans page for more information on how we can get veterans into their dream homes or Call 302-703-0727 to get started today.

The John Thomas Team are Certified Military Lending Specialists and pride themselves on helping Veterans and their families with purchasing and refinancing their homes in Delaware, Maryland, Pennsylvania, New Jersey, and Virginia.  If you are a Delaware Veteran and looking for a local professional to help you understand the process and your VA benefits for a home loan, then give us a call and let us walk you through the process.  You can also APPLY ONLINE
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Mortgage Rates Weekly Update [June 18 2018]

John Thomas June 18, 2018 Tags: ,
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Mortgage Rates Weekly Update for June 18, 2018

Mortgage Rates Update for June 18, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. 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 were able to move lower last week after mortgage bonds found a floor of support and rallied higher.  If you look at the mortgage bond chart below you can see mortgage bonds sold off until finding a floor of support of Wednesday and were able to rebound and rally higher on Thursday and again on Friday.  Mortgage bonds were stopped again at the 50 day moving average which they have failed to break through so we are cautious that bonds can break through this ceiling.  The Stock market is selling off in the face of trade wars overseas and mortgage bonds are still not able to break above the 50 day moving average so we are recommending to very careful FLOAT your mortgage rate to see if can break above the 50 day moving average but if stocks recover, we would quickly switch to a locking stance. Keep Reading...

New Castle County Property Taxes Increase July 1 2018

John Thomas June 15, 2018 Tags:
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New Castle County Property Taxes Increase July 1, 2018

New Castle County Property Taxes are increasing July 1, 2018 after County Council passed a budget amendment to raise the county property taxes 15% to balance the budget.  There was a budget standoff in the county council over what to cut or raise in order to balance the budget.  In a 7-5 vote County Council passed a 15 percent property tax increase to end the budget standoff.  The budget shortfall was balanced on the backs on homeowners and home buyers by increasing the property tax as well as an increase to the Sewer Bill last month by 12 percent.  The passage of the bill funds County Executive Matt Meyer’s $325 Million operating and construction budget for the up coming fiscal year.
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