Delaware mortgage rate weekly update for the week of July 16, 2012, by John R. Thomas from Primary Residential Mortgage in Newark, Delaware. John is the 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 Rate weekly update by John R. Thomas

Delaware mortgage rates hit an all-time record low last week but then drifter higher as traders took profits and sold off mortgage bonds at the end of the week. I am still recommending LOCKING in your mortgage rate as rates still sit near all-time record lows. Last week we saw more news that supported that the US economy is slowing. Consumer Sentiment in July 2012 came in the lowest it has been in 2 years.

The National Federation of Small Businesses report that the Small Business Optimism Index dropped to lowest level since October 2011. This drop is a clear indication of slowing growth in the US economy which supports some views that we are heading into another recession.

The CFPB announced that it is rolling out two new mortgage disclosure forms for comment from the public and the industry. The forms are supposed to better help consumers understand the loan product they are applying for an application. The first form is a Loan Estimate Form and the second form is a Closing Disclosure.

Wells Fargo Bank announced they were exiting the Wholesale mortgage business in July 2012 after settling a 175 million case with the Justice Department in regards to unfair lending practices from 2004-2009.

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, July 21, 2012, in Newark, Delaware and Tuesday, July 24, 2012, in Dover, Delaware. Register by calling 302-703-0727 or Register online at Delaware Home Buyer Seminar

The next Free Maryland First Time Home Buyer Seminar is Saturday, July 28, 2012, in Towson, Maryland. Register by calling 410-412-3319 or Register online at Maryland Home Buyer Seminar

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