Delaware Mortgage Rate Weekly Update April 30 2012
Delaware mortgage rates weekly update for the week of April 30, 2012, from John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John is the branch manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to schedule a free mortgage planning consultation or APPLY ONLINE for a Delaware Mortgage Loan.
Delaware mortgage rate weekly update by John R. Thomas
Delaware mortgage rates once again ended the week at all time historic lows as the bond market responded to the bad economic news released last week. The first report that moved the market last week was the New Home Sales Report which fell 7.1% in March 2012 with only 328,000 units, it was 353,000 units in February 2012. Inflation was seen as higher in the short term because of high energy costs but Feds see it being moderate in the longer terms so not concerned which helped the bond market.
The Federal Reserve also failed to mention a possible QE3 in the Federal Open Market Committee Meeting. The GDP for the 1st quarter of 2012 was much lower than expected at 2.2% which is down from 3% in the fourth quarter of 2011. This is very disappointing news for the strength of the economy which also helped boost mortgage bonds. The crisis in Europe over Spain is also weighing on the markets and is another support for higher bond prices. All of this translates into low mortgage interest rates.
Consumer Confidence took a slight dip in April, this is again more negative news supporting the rally in mortgage bond market to all-time highs.
I would recommend LOCKING in this extremely low Delaware mortgage rates. If you are looking to purchase or refinance a home in Delaware, call us at 302-703-0727 and we can give you a free mortgage planning appointment or you can APPLY ONLINE.
The next Free Delaware First Time Home Buyer Seminar is scheduled for May you may register online below:
The next Free Maryland First Time Home Buyer Seminar is scheduled for June and you can register below:
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