There will be a Free Delaware First Time Home Buyer Seminar on Saturday September 27, 2008, at 10:00 AM. The seminar will last about 2 hours and each participant will be able to receive a free copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new home in Delaware. The seminar will cover Delaware FHA loans, Delaware VA loans, My Community loans, First Time Home Buyer Loan Programs, and the Delaware USDA Rural Housing Program.

Each participant will receive a Free Audio CD on Credit Scoring, Credit Scoring Handbook, Homebuying Handbook, and an opportunity to meet with a mortgage planner to be pre-approved to buy a home at the seminar. You will also learn the importance of credit in buying a home and learn valuable tips on how to improve your credit score. Learn what programs are available to help with down payment and closing costs. The new loan limits for conventional and FHA will be covered as well as changes to borrowing 100% financing. Keep Reading...

6:30 PM till 8:00 PM Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Tuesday, August 26, 2008.

Monday we saw the mortgage-backed securities end up which should be good for mortgage rates. Today we had news on New home sales for July 2008 came out slightly less than expected.  Consumer Confidence came in better than expected. The U.S. Dollar strengthened against the Euro on news that the German economy might be slipping into a recession. The median home price in the United States rose again this month but still down 12.1% from the peak in 2007. The Fed Minutes from the last meeting were released today and the summary was continued downside growth, inflation to moderate but still concerned, Commercial real estate and business spending coming under pressure. Keep Reading...

This is my daily advice on whether to float or lock your Delaware Mortgage Rate for Thursday, August 21, 2008.

The mortgage back securities have experienced some selling pressure this morning and the bond is down. Lenders may come out with re-price for the worse. With so much gain in MBS over the last couple days, this pullback today is expected.  If your lender hasn’t repriced for the worst and you are closing next week, you may want to lock in your Delaware Mortgage Rate.  But long term it looks like this is a natural pullback today and we could go up again tomorrow or next week. A correction is always expected after a very good run. For more information on how the market reacted to the news today visit Keep Reading...

This is my daily advice on Floating or Locking your Delaware Mortgage Rate for Wednesday, August 20, 2008.

Mortgage Backed Securities ended the day higher yesterday and have moved up above the 50 days moving average for the first time in 3 months.  There was bad news released for both Fannie Mae and Freddie Mac again. Their stock has been downgraded again.

Mortgage Backed Securities are rallying today so my advice is to float as we may get a lender re-price for the better today.  If we close above the 50-day moving average that would be very technically significant.  If you need help understanding Mortgage Backed Securities please visit http://www.mortgagenewsdaily.com/mortgage_rates/mbs-basics.asp  Keep Reading...

This is my daily advice on floating or locking your Delaware mortgage rate for Tuesday, August 19, 2008.

The release of the Producer Price Index (PPI) today came out really high.  It rose 1.2% for July 2008 which is more than double expectations.  The Core PPI for the year is at 3.5%, which is the highest since 1991.  This is typically really bad news for Mortgage Rates and mortgage-backed securities. This should have sent rates higher but the news hasn’t moved the bond market.

This means traders realize that the higher inflation spike was due to the spike in oil prices. Now that oil has come down they are calculating inflation will be tamer in the months to follow.  Here is a link to an article explaining the jump in wholesale pricing that the PPI is calculated on http://biz.yahoo.com/ap/080819/economy.html Keep Reading...

The University of Delaware Fighting Blue Hens 2008 College Football Schedule. 08/30/2008 at Maryland

09/13/2008 West Chester (Home)

09/20/2008 at Furman

09/27/2008 Albany (Home)

10/04/2008 at UMass

10/11/2008 Maine (Home)

10/18/2008 William & Mary

10/25/2008 at Hofstra

11/01/2008 at James Madison

11/08/2008 Towson (Home)

11/15/2008 at Richmond

11/22/2008 Villanova (Home)

For more information visit Delaware Football

I am a University of Delaware Alumni, if you need help with a Delaware Mortgage Rate, then feel free to call me (John Thomas) at 302-368-7132 or send an e-mail to DelawareMortgages@yahoo.com. Keep Reading...

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. Keep Reading...