Here are the daily thoughts on floating or locking your Delaware Mortgage Rate.

As always – consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.

In Philadelphia today, Fed Posser made comments about higher inflation and a need for a rate hike by the Feds coupled with Bank after Bank reporting horrible earnings has caused a sell-off in Mortgage Backed Securities. Bonds have given back all of their gains from yesterday.

Bonds are now at the lowest point of all of 2008, which means Delaware Mortgage Rates are at the highest they have been all year. Lenders are going to reprice for the worse because Bonds have ticked down from when opened this morning as money moves from Bonds to Stocks.

Technically we look like we should rebound off the lows but if you are floating a loan that needs to close in the next week or so you might want to consider locking your Delaware Mortgage Rate, if you are more than two weeks off then I would recommend floating to see if mortgage rates can improve.

If you need advice on a Delaware Home Loan please feel free to call me (John Thomas) at 302-368-7132 or you can APPLY ONLINE HERE.

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