This is my daily advice on floating or locking your Delaware Mortgage Rate for Wednesday, October 8, 2008.

The Federal Reserve cut the Fed Funds Rate by 0.5% in conjunction with other World Banks.  This has set the market into wild trading with the Dow swinging from 300 points down to 170 points up to back down to back up and will probably continue the rest of the day. The mortgage-backed securities have also been swinging from positive to negative in response to the market.

The bond is still trading above the 25-day moving average and keeps bouncing off it every time it trades down so I am recommending you Float your Delaware Mortgage Rate for today.

If you need help with a 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 Delaware First Time Home Buyer then you should sign up to attend one of our Monthly First Time Home Buyer Seminars. Please visit www.DelawareMortgageLoans.net/seminars for more information.

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