This is my daily advice on floating or locking your Delaware Mortgage Rate for Tuesday, February 24, 2009.

The stock market recovered today after hitting a 12 year low. The recovery in the stock market pulled some money out of the bond market. The mortgage-backed securities finished the day down 16 basis points. It is still trading in a tight range. Mortgage rates are still about the same as yesterday. If you haven’t locked your loan already then I recommend floating your mortgage rate.  If stocks continue to rally and pull more money out of bonds then I would recommend locking in your rate. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Monday, February 23, 2009.

Stocks were lifted at the beginning of the day but sold off after bad news from GE, AIG, and CitiGroup. Mortgage-backed securities traded in a tight range and finished the day almost unchanged.  Bonds have still not benefited much from the stock market sell-off.

I am recommending carefully floating but be prepared to lock.  Bonds are sitting just below a tough layer of resistance which may be tough to push through. So FLOAT but be prepared to lock if bonds sell off to lock in gains. Keep Reading...

There will be a Free Budgeting Seminar on Wednesday, March 11, 2009, from 6:30 PM till 7:30 PM at the Primary Residential Mortgage’s Office in Newark, Delaware.  The seminar will cover the basics of making a household budget, how to track daily, weekly, and yearly expenses, and how to use your budget as part of an overall financial plan.  Each participant will receive a Free Excel Budget Calculator and a Budgeting Handbook.  You will also learn how to not only cut your expenses but increase your income Keep Reading...

This is my daily advice on floating or locking your loan for Friday, February 20, 2009.

The mortgage-backed securities (MBS) have opened higher this morning on weak stock reports. The CPI (Consumer Price Index) came out this morning as expected which is good news because this is a measure of inflation and a sign of increasing inflation would be bad for mortgage bonds.

If you didn’t lock your rate on Wednesday then you should continue floating unless there is a reversal and stocks start to rally, if that happens we could see the MBS drop and rates re-price for the worse. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Thursday, February 19, 2009.

The PPI index rose unexpectedly when reported today.  The PPI is a measure of inflation. Higher inflation is bad news for fixed income investments like mortgage bonds. Mortgage bonds sold off when news was released, Bonds traded in a wide range as investors tried to digest the PPI news. The Feds released that they bought about 20 billion in Mortgage-backed securities from Feb 12 to Feb 18.  Oil prices have jumped today on news of higher consumption and lower inventories which was very surprising to the market. Keep Reading...

U.S. home values continued to slide for the eighth consecutive quarter, declining 11.6 percent from a year ago, and falling 17.5 percent since the market peak in 2006. Additionally, one in five homes sold in the past 12 months was a foreclosure, and one in six of all homeowners have negative equity. Those are the national statistics for the fourth quarter of 2008.

Our Local Market looks to be doing much better than the national average. Newark area was actually able to make a slight gain in value from a year ago. Keep Reading...