This is my daily advice on Floating or Locking your Delaware Mortgage Rate for Wednesday, August 20, 2008.

Mortgage Backed Securities ended the day higher yesterday and have moved up above the 50 days moving average for the first time in 3 months.  There was bad news released for both Fannie Mae and Freddie Mac again. Their stock has been downgraded again.

Mortgage Backed Securities are rallying today so my advice is to float as we may get a lender re-price for the better today.  If we close above the 50-day moving average that would be very technically significant.  If you need help understanding Mortgage Backed Securities please visit http://www.mortgagenewsdaily.com/mortgage_rates/mbs-basics.asp  Keep Reading...

This is my daily advice on floating or locking your Delaware mortgage rate for Tuesday, August 19, 2008.

The release of the Producer Price Index (PPI) today came out really high.  It rose 1.2% for July 2008 which is more than double expectations.  The Core PPI for the year is at 3.5%, which is the highest since 1991.  This is typically really bad news for Mortgage Rates and mortgage-backed securities. This should have sent rates higher but the news hasn’t moved the bond market.

This means traders realize that the higher inflation spike was due to the spike in oil prices. Now that oil has come down they are calculating inflation will be tamer in the months to follow.  Here is a link to an article explaining the jump in wholesale pricing that the PPI is calculated on http://biz.yahoo.com/ap/080819/economy.html Keep Reading...

The University of Delaware Fighting Blue Hens 2008 College Football Schedule. 08/30/2008 at Maryland

09/13/2008 West Chester (Home)

09/20/2008 at Furman

09/27/2008 Albany (Home)

10/04/2008 at UMass

10/11/2008 Maine (Home)

10/18/2008 William & Mary

10/25/2008 at Hofstra

11/01/2008 at James Madison

11/08/2008 Towson (Home)

11/15/2008 at Richmond

11/22/2008 Villanova (Home)

For more information visit Delaware Football

I am a University of Delaware Alumni, if you need help with a Delaware Mortgage Rate, then feel free to call me (John Thomas) at 302-368-7132 or send an e-mail to DelawareMortgages@yahoo.com. Keep Reading...

This is my daily advice on whether to float or lock your Delaware Mortgage Rate for Friday, August 15, 2008.

We ended the day up yesterday and the report that will move the market today was the consumer sentiment report. It is expected to come in at 62.0.  Last month’s reading was 61.2. You can see how we ended up yesterday and if you took my advice to float in the morning you should have gotten a better rate by at least a 1/8 to a 0.25.

My recommendation is to cautiously FLOAT until we see how the market will react to the Consumer Sentiment report. Bonds are right where they were last Friday so LOCKING in at the end of the day may be the way to go because we are at a tough resistance for rates to move any lower. Keep Reading...

The University of Delaware Football Team in Newark, Delaware was ranked 4th in the pre-season poll conducted by Phil Steele College Football Preview Magazine. This is the fourth time U of D football has picked up a Top 15 ranking of the pre-season.

The Fighting Blue Hens were ranked #5 earlier this summer by the Sporting News. Delaware will open pre-season camp under Head Coach KC Keeler.  This is his 7th year as head coach. Last year the Blue Hens had a record of 11-4 and made it to the Division I Football Championship Subdivision Title Game. Keep Reading...

This is my daily advice on whether to lock or float your Delaware Mortgage Rate for Thursday, August 14, 2008.

The CPI report came out today worse than expected at 0.1% higher. This caused an initial reaction for mortgage-backed securities to trade lower but they again tested a very strong resistance at 99.15 and have since bounced up some.  And are now higher than we ended the day yesterday. The rest of the day will probably take its que from how stocks are trading.

My recommendation is to continue to float as we are more than likely bouncing off our low for the year for mortgage-backed securities. If you look at the graph below you can see where I recommended to LOCK in your mortgage rate yesterday at the high, if you missed the opportunity then you can see where we are bouncing off the lows and can float as we rise back up. Keep Reading...

There will be a Free Budgeting Seminar on Wednesday, September 10, 2008, from 6:30 PM till 8:00 PM at the Primary Residential Mortgage’s Office in Newark, Delaware. The seminar will cover the basics of making a household budget, how to track daily, weekly, and yearly expenses, and how to use your budget as part of an overall financial plan.

Each participant will receive a free Excel Budget Calculator and a Budgeting Handbook. You will also learn how to not only cut your expenses but increase your income.

To register for the Seminar, please call 302-368-7132 Ext. 12 and ask for John Thomas or send an e-mail to DelawareMortgages@yahoo.com Keep Reading...

This is an update that mortgage-backed securities are trading down to their lows of the day and lenders may be considering a reprice for the worse.

You should consider LOCKING your Delaware Mortgage Rate if you are closing in the next week or so.

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 Keep Reading...