Delaware mortgage rate weekly update for the week of June 4, 2012, by John R. Thomas from 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 get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan.

Delaware mortgage rate weekly update by John R. Thomas

Delaware mortgage rates hit another all-time record low on Friday after a very disappointing Jobs Report was released on Friday. All around bad news for the economy and the recovery. Expectations for jobs created in May 2012 was about 155,000 but the Labor Department on Friday released that only 69,000 jobs were created for May 2012. This was half of what was expected and they also revised the numbers for the last two months for the worse and said 49,000 fewer jobs were created versus what was reported.  Finally, the unemployment rate actually ticked up to 8.2%.

Mortgage backed securites traded at an all-time record high as yields are now at all-time record lows along with US Treasury yields. The bond market has set another record and looks to continue if we look at the technicals of the bond chart. If the Federal Reserve steps in for another round of QE3 to stimulate the economy this could actually stop rates from moving lower as it could devalue the dollar.

I would recommend LOCKing your Delaware mortgage rate if you are closing in the next 15-30 days but if you are closing in the next 60 days you could risk floating.

The next Free Delaware First Time Home Buyer Seminar is Saturday, June 16, 2012, in Newark, Delaware and Tuesday, June 19, 2012, in Dover, Delaware. Register by calling 302-703-0727 or Register online at Delaware Home Buyer Seminar

The next Free Maryland First Time Home Buyer Seminar is Saturday, June 30, 2012, in Towson, Maryland. Register by calling 410-412-3319 or Register online at Maryland Home Buyer Seminar

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