Delaware mortgage rate weekly mortgage market update for the week of September 10, 2012, by John R. Thomas with Primary Residential Mortgage in Newark, DE. John is the Newark branch manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware mortgage rates dropped back down to all-time historic lows to end the week after very volatile ride all week. Mortgage rates jumped up on Thursday but then fell back to all-time historic lows on Friday after the Labor Department released August 2012 Jobs Report. The jobs report was very disappointing, reporting only 96,000 new jobs created for August 2012 versus expectations of 130,000. The report also revised numbers for June 2012 and July 2012 revising the numbers down reporting that 41,000 fewer jobs were created than originally reported.

The unemployment rate surprisingly dropped from 8.3% to 8.1% for August 2012. How can you have an unemployment rate drop when job creation is down? The answer is the Labor Department re-classified 400,000 people that were classified as unemployed to some other category even though they are still not working. This is what caused the unemployment rate to drop when in reality there are more people unemployed than in the last 30 years. The real unemployment rate is at 10% if not higher. This can be seen by looking at the Labor Force Participation Rate which is at 30 years low of 63.5%. This means that only 63.5% of eligible workers in the US are actually participating in the workforce.

I am recommending LOCKING in your Delaware Mortgage Rate if you are closing in the next 30 days to take advantage of the lowest rates ever in history! Call 302-703-0727 to schedule a free mortgage consultation to get pre-approved for a mortgage to purchase a home or to refinance your existing mortgage to lower your rate and save thousands of dollars in interest. There are several special governments refinance programs to help underwater Delaware homeowners refinance. There is the FHA Streamline Refinance Program, the VA IRRRL Streamline Refinance Program, and there is the HARP 1.0 and HARP 2.0 refinance programs. Call us or e-mail us now to get more information or you can APPLY ONLINE.

The next Free Delaware First Time Home Buyer Seminar is Saturday, September 22, 2012, in Newark, Delaware and Tuesday, September 25, 2012, in Dover, Delaware. Register by calling 302-703-0727 or Register online at http://www.delawarehomebuyerseminar.com/

The next Free Maryland First Time Home Buyer Seminar is Saturday, September 8, 2012, in Towson, Maryland. Register by calling 410-412-3319 or Register online at http://www.MarylandHomeBuyerSeminars.com

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