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Mortgage Rates Weekly Update [December 11 2017]

John Thomas December 9, 2017 Tags: ,
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Mortgage Rates Weekly Update for December 11, 2017

Mortgage Rates Update for December 11, 2017 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 as mortgage bonds bounce off support to trade higher.  If you look at the mortgage bond chart below you can see mortgage bonds have been stuck in a sideways trading pattern alternating between ceiling of resistance and floor of support but has failed to break out of the channel.  Mortgage bonds closed Friday just below the ceiling of resistance and failed to break out of the channel higher but settled on a triple layer of support formed by the 50 day moving average, the 200 day moving average and a Fibonacci level.  We are recommending carefully FLOATING your mortgage rate to start the week to see if mortgage bonds can rally off support and break through the ceiling of resistance to move mortgage interest rates lower. Keep Reading...

FHA Loan Limits for 2018

John Thomas December 8, 2017 Tags:
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FHA Loan Limits for 2018

The Federal Housing Administration announced FHA Loan Limits for 2018 effective with FHA case numbers assigned on or after January 1, 2018.  The Minimum maximum FHA loan limit is increasing from $275,665 to $294,515  which is a 6.8% increase in the floor loan limit for FHA loans.  Do you need to get approved for a FHA Loan?  Call 302-703-0727 or APPLY ONLINE

Consistent with the Federal Housing Finance Agency (FHFA) increases to their conventional loan limits for 2018, FHA increased the ceiling in high cost areas of the county to $679,650 from $636,150. Keep Reading...

The Financial Benefits of Owning Your Home

John Thomas December 7, 2017 Tags:
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Delaware First Time Home Buyers

Owning Your Own Home is a Financial Goldmine for Delaware First Time Home Buyers

By now, it’s hard to ignore the facts: owning your home carries huge advantages over renting. Homeownership comes with, among other things, financial perks that just aren’t available to renters. Even with all the advantages of owning a home, many people continue to rent. This opens them up to needlessly stressful situations (including things like unchecked repairs and consistently rising rent). Owning a home is becoming easier and easier with the large pool of mortgage loan programs available to potential Delaware First Time Home Buyers. Delaware home seekers can start their home buying journey easily by calling the John Thomas Team at 302.703.0727, or by applying online. Keep Reading...

Mortgage Rates Weekly Update [December 4 2017]

John Thomas December 3, 2017 Tags: ,
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Mortgage Rates Weekly Update for December 4, 2017

Mortgage Rates Update for December 4, 2017 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 moved higher last week as mortgage bonds sold off on news that the tax bill will be passed.  If you look at the mortgage bond chart below you can see mortgage bonds sold off till Friday where they were able to rebound on news that Michael Flynn will testify against President Donald Trump.  The  Senate passed their version of the tax bill on December 2, 2017 which is bad news for mortgage bonds so we are recommending LOCKING your mortgage rate to start the week. Keep Reading...

FHFA Announces Increase to Maximum Conventional Loan Limits 2018

John Thomas December 1, 2017 Tags: ,
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Official News From FHFA – Conventional Loan Limit Increasing in 2018

The Federal Housing Finance Agency (FHFA) announced that the current maximum loan limit for conventional loans with Fannie Mae and Freddie Mac is increasing with the release of Lender Letter LL-2017-10 for conventional loan limits 2018. That means Delaware homebuyers seeking larger Delaware conventional loans can now do so without having to apply for a Jumbo loan.

Currently, the maximum for conventional loans in the US is $424,100. Starting January 1st, 2018, conventional loan limits in counties across the U.S (including Delaware counties Kent, Sussex, and New Castle) will rise to $453,100  for one-unit properties.   This represents a 6.8% increase from the current 2017 maximum conventional loan limit. The John Thomas Team has all the information you’ll need to get started – call us at 302.703.0727 or Apply Online. Keep Reading...

Mortgage Rates Weekly Update [November 27 2017]

John Thomas November 26, 2017 Tags: ,
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Mortgage Rates Weekly Update for November 27, 2017

Mortgage Rates Update for November 27, 2017 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 moved lower last week as mortgage bonds were able to rally above the 25 moving average.  If you look at the mortgage bond chart below you can see mortgage bonds ended the week on the 200 day moving average and could make another run at breaking above the 50 day moving average.  Bonds are in a tight trading pattern and the short term trend has been for bonds to move higher after bouncing off floor of support on November 13th.  We are recommending FLOATING Your mortgage rate to start the week to see if bonds can break through ceiling of resistance and continue to move higher. Keep Reading...

Delaware Home Renovation Loans – 3 Finance Options to Choose

John Thomas November 12, 2017 Tags: , ,
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Delaware Home Renovation Loans – 3 Finance Options to Choose

Renovation loan programs come in all shapes and sizes. Whether you need a few repairs, paint touchups, major reconstruction or some luxury upgrades, the right renovation loan for your project is available. It’s crucial to find the renovation loan program that fits your needs the best. PRMI Renovation Loans offer three great financing options that are tailored to fit the needs of Delaware homeowners.  Call 302-703-0727 to explore your options with a renovation specialist or begin the process online – GET STARTED ONLINE. Keep Reading...

Mortgage Rates Weekly Update [November 13 2017]

John Thomas November 12, 2017 Tags: ,
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Mortgage Rates Weekly Update for November 13, 2017

Mortgage Rates Update for November 13, 2017 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 moved higher last week as mortgage bonds sold off and broke below support.  If you look at the mortgage bond chart below you can see mortgage bonds had been rallying higher and broke above resistance on previous Friday and were able to close above resistance Monday and Tuesday of last week but on Wednesday mortgage bonds broke below support and followed through on Thursday selling off to end the day even lower and Gapped down on Friday below the next floor of support.  US Treasuries closed above an important level at a yield of 2.385% which is not a good technical signal for mortgage bonds so we are recommending LOCKING your mortgage rate to start the week. Keep Reading...