This is my daily advice on floating or locking your Delaware Mortgage Rate for Wednesday, November 12, 2008.

Mortgage bonds are trading higher this morning as stocks are down 300 points on bad retail reports and Circuit City closing 150 stores.  Best Buy has also warned of falling profits on bad sales Oil price per barrel is falling again and is around $56 a barrel.

The bond has broken above the 200-day moving average which is good news if we can close above the 200 days moving average.  If the bond can hold may see better pricing later today for mortgage rates. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Wednesday, November 5, 2008.

We elected a new president yesterday.  Barak Obama will be the 44th president of the United States of America. Mortgage Bonds had one of their best days ever jumping 122 bps yesterday in a very impressive rally.  When mortgage bonds go up rates go down so that was going news for rates.  Mortgage bonds are up again about 22 bps this morning. Treasuries are trading lower but MBS (mortgage-backed securities) are trading higher as the spread tightens. US stocks are pointing to a lower open today as the European Stock market trader lower last night. Oil is trading down after rallying yesterday on OPEC’s cut in production. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Tuesday, November 4, 2008.

It is election day and we will be picking a new president today. Will it be John McCain or Barak Obama?  The mortgage bond is trading slightly up but has been in a narrow trading range for the last 4-5 days.  We are off the highs which has rates at the highest they have been all year.  There isn’t much-scheduled news to move bonds so will be probably trading in response to the stock market.

Oil is up again this morning on news OPEC is going to cut production. The LIBOR has fallen considerably over the last week and a half from high of 4.33% down to 2.71%. This is good news which means credit market is loosening up., In the long run, we could see mortgage rates come down if money starts to move back into bonds. Keep Reading...

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...