This is my daily advice on floating or locking your Delaware Mortgage Rate for Friday, November 14, 2008.

The mortgage bond sold off yesterday as the stock market rallied and we saw profit taking in the bond closed down some 34 bps. Mortgage lenders re-priced for the worse at the end of the day. Oil also jumped up to $59 a barrel. Today we are seeing Mortgage Bonds open higher than they closed yesterday as stock market points to lower open.

Retail sales report is worse than expected but consumer sentiment is better than expected. Stocks are trying to rally on the news as I write this and Mortgage Backed Securities are moving lower. If you didn’t lock yesterday than you are going to probably see worse rates today when lenders come out with pricing because the bond is selling off.

I recommend FLOATING your Delaware Mortgage Rate for Friday, November 14, 2008, but be ready to lock if we move lower than going out levels from yesterday.

If you need help with a New Castle Delaware Mortgage than please call me at 302-368-7132 or send an e-mail to DelawareMortgages@yahoo.com

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