This is my daily advice on floating or locking your Delaware Mortgage Rate for Wednesday, October 22, 2008.

The mortgage bond market was up again yesterday and we some improvement in rates. Some lenders did reprice for the worse right at the end of the day as bonds pulled back from early highs of the day, but we still ended the day better than we started.

Stocks are down this morning and oil is down below $70 a barrel. Mortgage Bonds opened higher than we ended yesterday and we will see if we can build on the momentum we had. Short term we are due to a pullback as traders take a profit but when that will be, we don’t know.  I am recommending floating until we see a sell-off on profit taking if we don’t see it then keep floating for better rates.  If you are closing in the next week or so on your Delaware Home Loan, then you might want to consider locking in your rate so you don’t get caught with a pullback in the bond which could put rates higher in the short term. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Monday, October 20, 2008.

The mortgage-backed securities had three days of being in the green which means the bonds improved in pricing. Improvement in the bond means home loan rates go down. The market has started off this morning in the green as well.  There wasn’t much news this weekend which was good news for the Bond Market. We are looking for a slow and steady rise in the bonds over the next couple of weeks so rates so improve as well. Keep Reading...

This is my daily advice on floating or locking your loan for Friday, October 17, 2008.

The mortgage-backed securities have recovered some of their big losses early this week. They have been slow and steady getting better since mid-day Wednesday when it bounced off trading at the lows for the entire year.  So rates on Wednesday were as high as they have been all year. Now we have seen rates start to come back down.

The bond is up this morning in pre-market trading so if it holds, lenders should give you a 1/8 better on your rate today versus yesterday.  Stocks are trading lower in pre-market trading and Oil is trading about $70 a barrel. OPEC has announced will cut production again.  They really would like to see oil at $100 a barrel, of course, nobody else in the world would.  New Home Construction falls see report at http://biz.yahoo.com/ap/081017/economy.html Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Thursday, October 16, 2008.

Yesterday we saw the mortgage-backed securities selling off again for the third day in a row but then they rallied on news that the economy was still in a recession.  Rates improved when lenders repriced for the better.

Today the Bonds are trading up again slightly and the outlook still looks good for rates improving slightly.

I recommend FLOATING your Delaware Mortgage Rate for Thursday, October 16, 2008.

If you need help with your Delaware Mortgage Rate please feel free to call me at 302-368-7132 or send an e-mail to DelawareMortgages@yahoo.com. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Wednesday, October 15, 2008

The stock market is selling off again this morning.  Mortgage Bonds opened lower than they closed yesterday and rallied pre-market but have since sold off when reports of inflation came out.  Inflation came in higher than expected. Oil is also down again this morning trading around $75 a barrel. Retail Sales report also came in worse than expected today.

My advice is to LOCK your Delaware Mortgage Rate as the sky is still falling.  There is not stopping this climb in rates so lock in now. Keep Reading...

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

The stock market rallied on Monday to experience its biggest one day gain in history. The market started off this morning building on that rally but ended the day down 76 points. The Bond market faired much worse.  The mortgage bond rallied early today but then got slammed and ended down 81 bps on the day causing lenders to reprice for the worse.

Rates continue on a downward spiral and resist any effort to move higher. The Feds are talking about a rate cut again at the next meeting at the end of October which is bad news for fixed-income investments like bonds.  This pressured the bonds lower today. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Friday, October 10, 2008.

There is “Blood in the Streets”!! The global markets are selling off as well as our own back yard.  Cash is king right now and nobody is buying or lending money. Money is being pulled out of everything and put on the sidelines. This is causing the bonds to sell off.  We broke through the 200-day moving average which had been a key level of support.

The news is not getting better any time soon.  We are in a Bear market and it is global. Need to bite the bullet and stop hoping rates will move lower again. Lock your rate. Keep Reading...