Delaware Mortgage Rates Weekly Update for November 17, 2014
Delaware Mortgage Rates weekly mortgage market update for the Week of November 17, 2014, by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Newark, Delaware Branch Manager and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan
Delaware Mortgage Rates drifted lower last week as mortgage bonds traded in the lower end of the trading range. If you view the mortgage bond chart below you will see that bonds have traded between the two blue lines over the last two weeks but ended last week at the bottom of the channel. Thursday and Friday both closed with green candles which means bonds bounced off resistance at the bottom of the channel so short term momentum is for bonds to move higher so we recommend FLOATING Your Delaware Mortgage Rate to start the week.
In Housing News, Fannie Mae announced changes to condo project approval with their new selling guide update on November 10, 2014. The changes make it easier for condo projects to be approved. See the updates in the following blog post, Fannie Condo Project Guidelines Updates.
In other housing-related news, Rental rates are soaring, the nationally year over year rents increased by 6.2% and in the most expensive markets, it increased by an average of 7.8%. This means it is time for potential home buyers to get off the fence because if they renew that lease again, it is only going to be going up.
The next Delaware First Time Home Buyer Seminar is Saturday, November 22, 2014, n Newark, Delaware. There is a Dover Delaware First Time Home Buyer Seminar Saturday, December 6, 2014, in Dover, Delaware. Register by calling 302-703-0727 or Register online at http://www.DelawareHomeBuyerSeminar.com
Then next Maryland First Time Home Buyer Seminar is Saturday, November 22, 2014, 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