Delaware mortgage rates weekly mortgage market update for the week of December 31, 2012 from John R. Thomas with Primary Residential Mortgage in Newark, DE. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan. John Thomas is the Newark, Delaware Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. He provides a weekly mortgage rate market update to keep you current with what is happening with mortgage rates and the economy as a whole.

Delaware mortgage rates improved this week on the news that no deal has been reached to avert the “Fiscal Cliff”. The US Senate is meeting to see if can hash out a last minute deal. If they do we could see mortgage rates suffer in the short term and move higher.

Pending Home Sales for November 2012 came in higher by 1.7% which is the 3rd straight month of gains and higher than estimates. Pending Home Sales are contracts that have been signed but haven’t closed yet but should in the next 45-60 days.  Pending Home Sales are a good indicator of the future housing market as show what is coming in the next month or so for home sales. This is more good news to show the housing market may indeed be on a real recovery.

New Home Sales for November 2012 increased by 4% to 377,000 which is the highest reading since April 2010. The increase in New Home Sales shows that home builders are doing much better and have a bright outlook for the housing market. Home prices in the US are set to make their first yearly gain since 2006.

We saw the unemployment rate for November 2012 decreased in 45 states plus the District of Columbia. Since Housing is tied closely to jobs, the lower the unemployment rate the faster the housing market will recover.

I am recommending LOCKING  your Delaware Mortgage Rate if you are closing in the next 30 days to take advantage of the rebound lower in mortgage rates. 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, January 19, 2012, in Newark, Delaware, and Tuesday, January 15, 2013, in Dover, Delaware. Register by calling 302-703-0727 or Register online at http://www.delawarehomebuyerseminar.com/

Then next Free Maryland First Time Home Buyer Seminar is Saturday, January 12, 2012, in Towson, Maryland. Register by calling 410-412-3319 or Register online at http://www.MarylandHomeBuyerSeminars.com

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