This is my daily advice on floating or locking your loan for Friday, October 17, 2008.

The mortgage-backed securities have recovered some of their big losses early this week. They have been slow and steady getting better since mid-day Wednesday when it bounced off trading at the lows for the entire year.  So rates on Wednesday were as high as they have been all year. Now we have seen rates start to come back down.

The bond is up this morning in pre-market trading so if it holds, lenders should give you a 1/8 better on your rate today versus yesterday.  Stocks are trading lower in pre-market trading and Oil is trading about $70 a barrel. OPEC has announced will cut production again.  They really would like to see oil at $100 a barrel, of course, nobody else in the world would.  New Home Construction falls see report at http://biz.yahoo.com/ap/081017/economy.html

My advice is to FLOAT your Delaware Mortgage Rate for Friday October 17, 2008.

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

If you are a Newark Delaware First Time Home Buyer then you should register to attend our Delaware First Time Home Buyer Seminar on Saturday, October 25, 2008, at 10:00 AM.  Please visit www.DelawareMortgageLoans.net/seminars for a complete list of seminars.

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