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

The Core PCE (Personal Consumption Expenditure) was up 0.3% which is greater than the consensus of 0.2%. This is mortgage market unfriendly news along with income up 0.1% which consensus had at -0.2%.  This income factor was affected by tax rebates. The mortgage bonds are down slightly this morning but are hovering above a key level of support.

I suggest FLOATING unless the level of support is broken. Stocks are opening lower so this could push bonds higher.

If you need help with a Newark Delaware Mortgage Rate for the purchase or refinance of a home, please feel free to call me (John Thomas) at 302-703-0727 or send an e-mail to DelawareMortgages@yahoo.com

If you are a Newark Delaware First Time Home Buyer then you should sign up for one of our monthly First Time Home Buyer Seminars. The next one is August 23, 2008, at 10:00 AM. Please visit www.DelawareMortgageLoans.net/seminars for more information.

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