This is my daily advice on Locking or Floating your Delaware Mortgage Rate for Thursday, August 7, 2008.

The mortgage rates have risen dramatically this week because of the Fed Meeting on Tuesday and the report of a huge loss at Freddie Mac. If you haven’t already locked your Delaware mortgage rate, then your best bet may be to float your Delaware Mortgage Loan because it looks like we could rebound some by the end of the day Friday.

There is a huge spread between mortgage-backed securities and treasuries right now so there is a potential for a rebound to cover the spread.

My advice is to FLOAT your Delaware Mortgage Rate for today.

If you need help qualifying for a Delaware Mortgage Loan, please feel free to call me (John Thomas) at 302-368-7132 or you can APPLY ONLINE HERE.

If you would like to use a Delaware FHA loan to purchase a home with Seller-funded Down payment assistance, then you should call me right away because Congress just passed a bill to eliminate this on Oct 1, 2008.

If you are a Delaware First Time Home Buyer then visit www.DelawareMortgageLoans.net/seminars to sign up for one of our monthly First Time Home Buyer Seminars or one of our monthly Credit Repair Seminars.

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