This is my daily advice on floating or locking your Delaware Mortgage Rate for Tuesday, August 26, 2008.

Monday we saw the mortgage-backed securities end up which should be good for mortgage rates. Today we had news on New home sales for July 2008 came out slightly less than expected.  Consumer Confidence came in better than expected. The U.S. Dollar strengthened against the Euro on news that the German economy might be slipping into a recession. The median home price in the United States rose again this month but still down 12.1% from the peak in 2007. The Fed Minutes from the last meeting were released today and the summary was continued downside growth, inflation to moderate but still concerned, Commercial real estate and business spending coming under pressure.

With all of this news, Delaware Mortgage Rates still finished slightly up on the day because of how the mortgage-backed securities traded. If you need help understanding MBS, then visit MBS Basics

I am recommending FLOATING your Delaware Mortgage Rate into Wednesday.

If you need advice or help on your Newark Delaware Mortgage Rate please feel free to call me at 302-368-7132 or send an e-mail to DelawareMortgages@yahoo.com.

If you are a Newark Delaware First Time Home Buyer then you should attend one of our monthly Delaware First Time Home Buyer Seminars, then visit www.DelawareMortgageLoans.net/seminars for more information.

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