This is my daily advice on floating or locking your Delaware Mortgage Rate for Wednesday, October 22, 2008.

The mortgage bond market was up again yesterday and we some improvement in rates. Some lenders did reprice for the worse right at the end of the day as bonds pulled back from early highs of the day, but we still ended the day better than we started.

Stocks are down this morning and oil is down below $70 a barrel. Mortgage Bonds opened higher than we ended yesterday and we will see if we can build on the momentum we had. Short term we are due to a pullback as traders take a profit but when that will be, we don’t know.  I am recommending floating until we see a sell-off on profit taking if we don’t see it then keep floating for better rates.  If you are closing in the next week or so on your Delaware Home Loan, then you might want to consider locking in your rate so you don’t get caught with a pullback in the bond which could put rates higher in the short term.

My advice is to FLOAT your Delaware Mortgage Rate for Wednesday, October 22, 2008.

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

If you are a Newark Delaware First Time Home Buyer then you should register for our Delaware First Time Home Buyer Seminar this Saturday, October 25, 2008, at 10:00 AM.  E-mail me or call me to register.  To see a complete list of upcoming seminars visit www.DelawareMortgageLoans.net/seminars.

Your Government Loan specialist – Delaware USDA Rural Housing Loans, Delaware FHA Loans, Delaware VA Loans

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