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

It is election day and we will be picking a new president today. Will it be John McCain or Barak Obama?  The mortgage bond is trading slightly up but has been in a narrow trading range for the last 4-5 days.  We are off the highs which has rates at the highest they have been all year.  There isn’t much-scheduled news to move bonds so will be probably trading in response to the stock market.

Oil is up again this morning on news OPEC is going to cut production. The LIBOR has fallen considerably over the last week and a half from high of 4.33% down to 2.71%. This is good news which means credit market is loosening up., In the long run, we could see mortgage rates come down if money starts to move back into bonds.

I am recommending FLOATING your Delaware Mortgage Rate for Tuesday, November 4, 2008.

If you need advice or help with your Delaware Mortgage Rate, please call me at 302-368-7132 or send me an e-mail to DelawareMortgages@yahoo.com.

If you are a Delaware First Time Home Buyer then you should register to attend one of our monthly First Time Home Buyer Seminars.  Please visit www.DelawareMortgageLoans.net/seminars for a complete list.

If you would like to apply for a Mortgage Loan, you can APPLY ONLINE HERE, you can call John Thomas at 302-703-0727.

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