This is my advice on floating or locking your loan for Friday, June 26, 2009.

Mortgage Rates jumped up on May 27, 2009, because mortgage-backed securities sold off and dropped like a rock. When the price of the bonds go down rates go up. Mortgage Rates again dropped even more on June 4, 2009. Rates hit 6.0%.  This left many borrowers shocked and amazed because they were holding out hoping rates go even better then they were before May 27th. Hopefully, consumers learned a valuable lesson. Will rates get back to the 4s? Most people in the know don’t think so.

Mortgage Rates improved yesterday and again today. We may have hit a high for the bond and if you had been waiting for better rates, today might be the day to lock in a good rate. Rates could move lower but we are coming up on the end of the month and have had some nice gains so we may see pullback next week in the bonds which would drive rates higher.

My advice is to LOCK in your Delaware Mortgage Rate for Friday, June 26, 2009.

If you need advice or help with a Delaware Mortgage Loan for the purchase or refinance of a home, please call me (John Thomas) at 302-703-0727 or you can APPLY ONLINE HERE, I can help you with a Delaware FHA Loan, Delaware VA Loan, Delaware USDA Rural Housing Loan, Delaware FHA 203k Rehab Loan, and Delaware Conventional Loans.

If you are a Delaware First Time Home Buyer you should register to attend our monthly Delaware First Time Home Buyer Seminars. We are having one tomorrow at 10:00 AM at the Christiana Hilton Hotel in Newark, Delaware. Call me at 302-588-3665 to register or send an e-mail to DelawareMortgages@yahoo.com

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