Understanding the Delaware VA IRRRL Refinance Mortgage Loan

John Thomas September 17, 2018 Tags: Delaware VA Loans

Understanding the Delaware VA IRRRL Refinance Mortgage Loan

Delaware homeowners with existing VA mortgages have an option for refinancing called the Delaware VA IRRRL Refinance Mortgage Loan. Commonly known as the VA Streamline Refinance, the program simplifies home refinancing for Delaware Veterans by waiving documentation typically required by lenders, including income information, employment verification, bank account and credit score verification, and even an actual appraisal of the home. Call the John Thomas Team at 302-703-0727 with questions or to get started with a VA Loan. You can also APPLY ONLINE Keep Reading...

Mortgage Rates Weekly Update [September 17 2018]

John Thomas September 16, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for September 17, 2018

Mortgage Rates Update for September 17, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware Loan Officer and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 for a Rate Quote or Apply Online for Rate Quote

Mortgage Rates moved higher last week as mortgage bonds fell following through on a sell off that started with the Jobs Report the previous week. If you look at the Fannie Mae 4.0% mortgage bond chart below you can see mortgage bonds are in a downward trend that started at the end of August. As mortgage bonds sell off and move lower, mortgage interest rates move higher. Bonds ended the week below a layer of support which will now be a resistance, if they break below the next floor which they are sitting on, there is plenty of room to fall before reaching the next floor of support. US Treasuries have moved up and ended the week at 3.0% and will probably move up to 3.1% before finding a ceiling of resistance. With all of this headwind for bonds, we are recommending LOCKING Your mortgage rate to start the week. Keep Reading...

Mortgage Rates Weekly Update [September 10 2018]

John Thomas September 10, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for September 10, 2018

Mortgage Rates Update for September 10, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware Loan Officer and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 for a Rate Quote or Apply Online for Rate Quote

Mortgage Rates ended the week higher as mortgage bonds sold off on Friday after the August Jobs Report was released. If you look at the mortgage bond chart below you can see mortgage bonds started the week on Tuesday by selling off and continued on Wednesday but were able to find a floor of support and produce a good technical signal that was followed through on Thursday with a rally shown with the green candle. Mortgage bonds on Friday sold off and gave back all the gains after the jobs report was released. Mortgage bonds broke through the floor of support at the 100 day moving average and broke through another floor of support set back on August 3rd. With more room to the downside for mortgage bonds, we are recommending LOCKING your mortgage rate to start the week to protect yourself from mortgage interest rates moving higher. Keep Reading...

Mortgage Rates Weekly Update [September 3 2018]

John Thomas September 3, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for September 3, 2018

Mortgage Rates Update for September 3, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware Loan Officer and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 for a Rate Quote or Apply Online for Rate Quote

Mortgage Rates moved higher last week as mortgage bonds were turned lower by a tough ceiling of resistance. If you look at the Fannie Mae 4.0% mortgage bond chart below you can see mortgage bonds started the week on Monday with a red candle which meant mortgage bonds sold off. Bonds fell to a low on Wednesday when they were able to find a floor of support at the 25 moving average. Bonds were able to rally higher on Thursday and Friday and ended the week just above support at the 50 day moving average. We are recommending FLOATING Your mortgage rates to start the week to see if mortgage bonds can make a run at the tough overhead resistance at 101.988 on the chart. Keep Reading...

Delaware First Time Home Buyer State Transfer Tax Exemption

John Thomas August 31, 2018 Tags: Delaware Transfer Tax

Delaware First Time Home Buyer State Transfer Tax Exemption

Delaware First Time Home Buyer State Transfer Tax Exemption was enacted on August 30, 2018 and was made retroactive back to August 1, 2017 when the State of Delaware increased the transfer tax from 1.5% to 2.5% on the state portion, so effective immediately, Delaware First Time Home Buyer‘s portion f the State transfer tax is reduced from 1.25% to 0.75%. The Seller’s portion remains at 1.25%. The first time home buyer exemption applies to purchase price of up to $400,000. If purchase price is above $400,000 then the Delaware first time home buyer pays the full 1.25% on the amount above $400,000.
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Newark Delaware First Time Home Buyer Seminar Sept 22 2018

John Thomas August 29, 2018 Tags: delaware home buyer seminar

Newark Delaware First Time Home Buyer Seminar

There will be a Newark Delaware First Time Home Buyer Seminar on Saturday September 22, 2018 at 10:00 AM till Noon. The seminar will last about 2 hours and each participate will be able to receive a copy of their credit report. The home buyer seminar will cover all of the basics of buying a home in Delaware. The Newark Delaware First Time Home Buyer seminar will cover FHA loans, VA loans, USDA Rural Housing Loans, First Time Home Buyer Loan Programs and the FHA 203k Rehab loans. We will also cover the Delaware Mortgage Credit Certificate Program which is also know as the Delaware first time home buyer tax credit which give you up to $2,000 a year as a federal tax credit for every year you have the mortgage loan. Keep Reading...

Mortgage Rates Weekly Update [August 27 2018]

John Thomas August 27, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for August 27, 2018

Mortgage Rates Update for August 27, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware Loan Officer and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 for a Rate Quote or Apply Online for Rate Quote

Mortgage Rates ended the week about where they started after failing to break above tough ceiling resistance. If you look at the Fannie Mae 4.0% Mortgage Bond Chart below you can see mortgage bonds have been on an upward trend since bouncing off a floor of support on July 30th. Mortgage bonds has been capped at very strong ceiling of resistance that bonds have not been able to break above since May but have come up against 4 times this week. If mortgage bonds can break above this ceiling of resistance it would be significant and would mean a big potential upside for bonds so we are recommending FLOATING Your mortgage rate to start the week. Keep Reading...

Mortgage Rates Weekly Update [August 20 2018]

John Thomas August 20, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for August 20, 2018

Mortgage Rates Update for August 20, 2018 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware Loan Officer and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 for a Rate Quote or Apply Online for Rate Quote

Mortgage Rates were able to end the week slightly lower and closed above the 100 day moving average on Friday which has been a very tough ceiling of resistance for several months. IF you look at the mortgage bond chart below you can see mortgage bonds are now in a short term upward trend which means mortgage rates are moving lower. If mortgage bonds can close above the 100 day moving average on Monday that would be a very good sign so we are recommending FLOATING Your mortgage rate to start the week to see if mortgage bonds can remain above the 100 day moving average. If bonds fall back below the 100 day moving average we would switch to a locking stance. Keep Reading...