Delaware Mortgage Rates Weekly Update for February 13, 2012
Delaware Morgage Rates Weekly Update for February 13, 2012, by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. Call 302-703-0727 for a free mortgage planning consultation or APPLY ONLINE.
Delaware mortgage rates weekly update by John R. Thomas
Delaware mortgage rates have started the week slightly higher as bond market has sold off last week and started a downward trend. When bond prices move down mortgage interest rates move up. The stock market has been having a great start to 2012, S&P is up 7.5% year to date as of February 10, 2012, this has taken money out of the bond market causing home loan rates to rise from historic lows.
The big news is the Federal Government announced a landmark case against 5 largest banks that have set a 25 Billion Dollar settlement agreement for Foreclosure Abuses from 2008 till December 2011. Most of the settlement money is to be used to help underwater homeowners who are current on their mortgages. No details have been released as of yet.
I would recommend locking in your Delaware mortgage interest rate if you are closing in the next 30 days as mortgage rates could be pushed higher in the short term. If you would like to schedule a free mortgage planner consultation by calling 302-703-0727 or you can APPLY ONLINE.
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