Delaware Mortgage Rates

Delaware Mortgage Rates

Real Estate Investing Seminar July 26th

John Thomas July 6, 2007 Tags:

Free Delaware Real Estate Investment Seminar on Thursday, July 26th from 6:30 PM to 8:30 PM at Primary Residential Mortgage’s Office in New Castle, DE.   The Seminar is for New Real Estate Investors. The seminar will show participates how to analyze potential investments, how to acquire the proper financing, what loan programs are available for investors with the current mortgage market and much more. Each participates will receive a Free Audio CD on Real Estate Investing and a Free Investors Kit which includes most forms needed to get started in Investing. Please Call 302-703-0727 and ask for John Thomas to register. The seminar will be at 42 Reads Way, New Castle, DE 19720. Keep Reading...

MTA Index – What is it?

John Thomas July 3, 2007 Tags:

MTA
Monthly Treasury Average (1 year MTA)

This index is determined by averaging one-year Treasury bills each month over the prior 12 month time period. This is an index used to set the cost of various variable-rate loans, particularly adjustable-rate mortgages. The use of the 1-Year MTA as a loan index is relatively new. The MTA generally fluctuates more than the 11th District Cost-of-Funds Index (COFI ­ see below), although they both track each other closely.

Note:
The MTA index is often used in what is commonly referred to as “Option ARMs”. This product type can create terrific cash flow and payment stability for your customer in the early years of the loan but requires education on the consequences of the different payment options, such as negative amortization. Keep Reading...

Financial News – Week of July 2, 2007

John Thomas July 3, 2007 Tags:

Sales of new single-family homes fell 1.6% in May, far better than the 6.2% decline Wall Street had anticipated, the Commerce Department said June 26. The median price of a new home fell 0.9% to $236,100 in May, down from $238,200 in May 2006.

Existing home sales fell 0.3% in May to 5.99 million units, the slowest sales pace in four years, the National Association of Realtors said June 25. The median price of an existing home was $223,700, down 2.1% from a year earlier, marking the 10th straight month that the price has shown a year-over-year decline. Keep Reading...

Feds Hold Feds Fund Rate at 5.25% on June 28, 2007

John Thomas June 28, 2007 Tags: , ,

Feds Fund Rate Held at 5.25% on June 28, 2007

The Feds released their statement today about their meeting over the last two days and decided to keep the Fed Funds Rate  at 5.25% as everybody expected.  The feds noted improvements in inflation but were skeptical that inflation may still become a problem which leaves the door open for them to raise rates later this year if need be.

If you would like to apply for a Delaware Home Loan, you can APPLY ONLINE HERE, you can call John R. Thomas at 302-703-0727.

John R. Thomas – NMLS# 38783 Keep Reading...

Delaware Mortgage Rates – Week of June 25th 2007

John Thomas June 27, 2007 Tags:

Delaware Mortgage Rates Week of June 25, 2007

The following are the going rates for Delaware Mortgage Loans for the week of June 25th, 2007.  The following Delaware Interest Rates assume a 720 credit score and an 80% LTV with no points and assumes owner occupancy.

30 Year Fixed Rate Mortgage – 6.625% (APR – 6.785%)

15 Year Fixed Rate Mortgage – 6.375% (APR – 6.51%)

30 Year 5-1 ARM – 6.375% (APR – 6.51%)

30 Year 1 Year ARM – 5.66% (APR – 5.875%)

Rates are subject to change.  Rates change daily and sometimes more than once per day.  Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise Keep Reading...

Shopping Around for the Best Delaware Mortgage Rate?

John Thomas April 13, 2007 Tags:

SHOPPING AROUND?

HERE’S THE INSIDE SCOOP ON HOW TO DO IT RIGHT!

First: make sure you are working with an experienced, professional loan officer. The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of advising you properly and troubleshooting the issues that may arise along the way. But how can you tell?

Here are FOUR SIMPLE QUESTIONS YOUR LENDER ABSOLUTELY MUST BE ABLE TO ANSWER CORRECTLY. IF THEY DO NOT KNOW THE ANSWERS RUN DON’T WALK RUN TO A LENDER THAT DOES! Keep Reading...

Should You Leverage Your Home or Pay It Down Rapidly?

John Thomas April 7, 2007 Tags: , ,

Newark, DE – There is a great debate within the inner-mortgage circles these days. Should we, as loan professionals, encourage clients to borrow as much money as possible? Or would consumers benefit more if we helped them to understand the advantages of 15-year amortization schedules and pre-paying principal? Let’s examine the pros and cons of both strategies.

Leveraging Your Property. In order to understand why you’d want to borrow as much as possible for your home purchase, you must first grasp the concept that equity has a zero rate of return. Here’s an example: Keep Reading...

Financial News for March 2007

John Thomas April 1, 2007 Tags:

Sales of existing homes unexpectedly rose by 3.9% in February, the largest monthly gain in three years, the National Association of Realtors reported March 23. The price of a median home sold last month dropped to $212,800, down by 1.3% from the same month in 2006, marking a record seven straight months that the median home price has fallen.

Construction of new homes and apartments rose 9% in February to a seasonally adjusted annual rate of 1.53 million units, the Commerce Department reported March 20. Construction had fallen by 14.3% in January. Even with the better-than-expected rebound, construction activity remained 28.5% below last year’s level. Keep Reading...