Mortgage Loans

Mortgage Loans

Delaware First Time Homer Buyer Seminar – July 26th

John Thomas July 12, 2008
There will be a Free Delaware First Time Home Buyer Seminar on Saturday, July 26, 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.The Seminar is being held at 256 Chapman Rd, Suite 105, Newark, DE 19702.

To register for the seminar, please call 302-368-7132 Ext 12 and ask for John Thomas.

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

Weekly Financial Market Update – June 30, 2008

John Thomas June 30, 2008

THE MARKETS:

June has been a negative month for the equity markets. For the month, the S&P 500 is down 8.7% and the Russell 2000 is down 6.19%. For the quarter, the S&P 500 is down 3.35% and the Russell 2000 is up 1.84%. The Dow Jones AIG Commodity Index is up 9.59% for the month and 27.8% for the year. This is a “long only” index which can be volatile and about which many investors are wary (“How high can it go?”). It has been having an extraordinary run during this bearish equity market. Keep Reading...

Delaware Mortgage Rates – Market Update – June 25, 2008

John Thomas June 25, 2008

Here are the daily thoughts on floating or locking your Delaware Mortgage Rate.

As always – consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.

The Bond market today is down so far in the morning waiting on the Fed Decision later today. The market will be extremely volatile awaiting the decision.  We had some nice improvement on rates yesterday but some lenders came out this morning with some worse pricing.

New Home Sales for May came out today at 512,000, which was in line with expectations but was down from April’s report. The median price of a home sold was also down by 5.7 percent from a year ago. The median home price was $231,000. The inventory of unsold homes was up to 10.9 months. Keep Reading...

First Time Home Buyer Seminar – June 28th – Still Room Left!!!

John Thomas June 25, 2008

There are still some seats available for the Free First Time Home Buyers Seminar on Saturday, June 28, 2008, at 10:00 AM.  Please call John Thomas at 302-368-7132 Ext.12 to register or send an e-mail to DelawareMortgages@yahoo.com. The seminar is being held in Newark, DE and will last about 2 hours.

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. Keep Reading...

Delaware Mortgage Rates – Market Update – June 20, 2008

John Thomas June 20, 2008

Here are the daily thoughts on floating or locking your Delaware Mortgage Rate.

As always – consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.

Little economic news on tap for today. The big news yesterday in China raising the price of fuel for its citizens. This helped bring down the price of oil yesterday. Stocks appear to be set for another drop today – this spells good news for bonds. Stocks Dropped because oil railed today after selling off yesterday. Keep Reading...

Delaware Mortgage Rates – Market Update – June 18, 2008

John Thomas June 18, 2008

Here are the daily thoughts on floating or locking your Delaware Mortgage Loan Interest Rate.

As always – consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.

Stocks are trading lower because of a bad earnings report from FedEx and Morgan Stanley.  This is more news supporting that we are in a recession or sliding into one depending on who you talk to about it. The rates have been higher lately because of the fear of inflation.

Mortgage Bonds are trading higher on the news which means rates could potentially get better.  The market could change at a moments notice because of the volatility. I am recommending floating right now but would be ready to lock if stocks or bonds change their direction. Keep Reading...

Weekly Market Update – June 16, 2008

John Thomas June 17, 2008
NOT MUCH MOVEMENT LAST WEEK: The markets did not move much: The Dow was up 0.80% and the S & P 500 was down 0.05%. NEXT INTEREST RATE MOVEMENT WILL BE UP?: The Fed’s increased public anti-inflation discussion has led to market expectations of one or more rate hikes by the year-end. The Fed funds futures market is pricing in 75 basis points by January. The Fed outlook has changed over the last several weeks. In the April 30 policy statement, the Federal Open Market Committee hinted strongly that it was finished with rate cuts, but the market expected that a weakening economy would force the Fed to cut at least once more. Since late April, economic data have been mixed, but not as bad as many feared. The price of crude oil has continued to rise, to a point where the Fed’s concerns about inflation are now dominant. IN EUROPE: At the European Central Bank (ECB), they have made it clear that inflation is their number one concern and they aren’t thinking about a cut in rates. Jean-Claude Trichet, the ECB Chairman, has strongly hinted that their next move is likely to be an increase in rates. If that happens, and the U. S. doesn’t match the increase, it will put added downward pressure on the dollar and likely cause oil prices to continue to go up. ECONOMISTS LESS PESSIMISTIC:  This past week, once again, the Wall Street Journal asked a panel of Wall Street economists whether we are in a Recession. 52% say yes. That’s the bad news. The good news is that this same group was asked the same question in April and 76% said yes.  It looks like economist opinions are as volatile as the markets.

DEBT CAN BITE YOU AT ANY TIME, AND COMPOUNDING WILL KILL YOU: Keep Reading...

Delware Mortgage Rates – June 17, 2008

John Thomas June 17, 2008

Here are the daily thoughts on floating or locking your Delaware Mortgage Loan Interest Rate.

As always – consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.

Building Permits and Housing Starts came in almost exactly where they were predicted to be. Producer Price Index (PPI) came in higher than expected, though core PPI came in exactly on target (good news). Capacity Utilization and Industrial Production both came in below expectations.

Technically speaking – the FNMA 6.0% 30-year bond fell yesterday to support levels. This morning it appeared to be taking a nice bounce with the core PPI news. Bonds are still in an oversold position leaving a lot of room on the upside. The Bond went up, down then back up today. Keep Reading...