This is my daily advice on whether to float or lock your Delaware Mortgage Rate for Friday, August 15, 2008.

We ended the day up yesterday and the report that will move the market today was the consumer sentiment report. It is expected to come in at 62.0.  Last month’s reading was 61.2. You can see how we ended up yesterday and if you took my advice to float in the morning you should have gotten a better rate by at least a 1/8 to a 0.25.

My recommendation is to cautiously FLOAT until we see how the market will react to the Consumer Sentiment report. Bonds are right where they were last Friday so LOCKING in at the end of the day may be the way to go because we are at a tough resistance for rates to move any lower.

If you would like a great tutorial on

Understanding Mortgage Backed Securities

If you need help or have questions about a Wilmington Delaware Mortgage Rate, then please call me (John Thomas) at 302-368-7132 or send an e-mail to DelawareMortgages@yahoo.com.  I can get you the best loan program for your situation at a great rate.

If you are a Wilmington Delaware First Time Home Buyer, then you should sign up for one of our monthly Delaware First Time Home Buyer Seminars by visiting www.DelawareMortgageLoans.net/seminars

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