This is my daily advice on floating or locking your Delaware Mortgage Rate for July 29, 2008.

Mortgage Backed Securities started off the day with a big drop which caused rates to come out lower this morning than they ended yesterday.  If you didn’t lock yesterday than floating today would have made the most sense. We bounced off support and finished the day extremely strong. Even with stocks doing very well today we still recovered almost all of the ground we lost early today.  Look at the Graph below.

This lends support to the theory that we may have hit the bottom for bonds and could be going up from here into the fall.  What does this mean for Delaware mortgages?  It means we could see much lower rates as we head into the fall.

My advice is to FLOAT your Delaware Mortgage Rate into tomorrow.

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

If you are a Delaware First Time Home Buyer, then you will want to sign up for one of our Delaware First Time Home Buyer Seminars, 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