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Delaware VA Loan Update – VA Cracking Down on Predatory Lending

John Thomas June 10, 2018 Tags:
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Delaware VA Loan Update: Department of Veteran Affairs Cracking Down on Predatory Lending

Delaware Veterans & Lenders to Benefit from New VA Addendum that goes into Effect June 1, 2018.  Critical changes to the eligibility requirements for a Delaware VA loan and mortgages are on the horizon. If you have questions about the new guidelines or would like to apply for VA Loan call 302-703-0727 or APPLY ONLINE.  Ginnie Mae’s new implementation states that all VA refinance loans insured or guaranteed by the VA will only be eligible for government protection if it meets both of the following guidelines: Keep Reading...

Mortgage Rates Weekly Update [May 14 2018]

John Thomas May 13, 2018 Tags: ,
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Mortgage Rates Weekly Update for May 14, 2018

Mortgage Rates Update for May 14, 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 slightly higher to end the week as mortgage bonds traded in a wide range between support and resistance.  If you look at the mortgage bond chart below you can see bonds started the week just below a ceiling of resistance and failed to break through and sold off till hitting floor of support on Wednesday and then rallying off the support to end the week in the middle of the trading channel.  We are recommending FLOATING your mortgage interest rate to start the week to see if mortgage bonds can continue to move higher and challenge the ceiling of resistance but if bonds fail to rally and sell off we would quickly switch to a locking stance. Keep Reading...

Mortgage Rates Weekly Update [May 7 2018]

John Thomas May 7, 2018 Tags: ,
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Mortgage Rates Weekly Update for May 7, 2018

Mortgage Rates Update for May 7, 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 maintain the gains seen the previous week as mortgage bonds were able to rally off support and move higher.  If you look at the mortgage bond chart below you can see mortgage bonds are now trading in a short term upward trend channel which moves mortgage interest rates lower.  The mortgage bonds were stopped on Friday at the 25 moving average and turned lower.  There is still room to the downside if mortgage bonds lose steam and will not move higher from here unless can break above the 25 day moving average.  We are recommending carefully FLOATING your mortgage rate to see if mortgage bonds can make a run at breaking through the 25 day moving average which would move mortgage interest rates lower but if bonds tart to sell off then we would quickly switch to a locking at stance. Keep Reading...

DSHA Preferred Plus Down Payment Assistance Program

John Thomas May 3, 2018 Tags: ,
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DSHA Preferred Plus Down Payment Assistance Program

DSHA Preferred Plus Down Payment Assistance Program is a new Delaware down payment assistance program to replace the current DSHA SMAL Loan Program and the DSHA Advantage 4 Grant Program effective May 1, 2018.  The Preferred Plus program provides Delaware home buyers with down payment assistance loans for 2% to 5% of the first mortgage loan.  The down payment assistance can be used toward the required down payment and/or closing costs.  Call 302-703-0727 for more information or to apply for the Preferred Plus Program.  You can also apply online at DSHA Preferred Plus Program Application Keep Reading...

Mortgage Rates Weekly Update [April 30 2018]

John Thomas April 30, 2018 Tags: ,
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Mortgage Rates Weekly Update for April 30, 2018

Mortgage Rates Update for April  30, 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 finally able to move lower as mortgage bonds rallied higher last week.  If you look at the mortgage bond chart below you can see the short term trend of bonds selling off was able to reverse last week as mortgage bonds were able to move higher.  The move lower in mortgage interest rates was expected as the 10 Year US Treasury finally hit 3.04% and then backed off from there.  There was a very important technical level that needed to be reached before we could see Treasuries and mortgage bonds take a breather and reverse course in the short term.  Long term we feel it is only a matter of time before US Treasuries break above this ceiling and mortgage rates again begin to move higher.  In the short term we are recommending FLOATING your mortgage rate to see if we can see a relief rally continue in mortgage bonds. Keep Reading...

Mortgage Rates Weekly Update [April 23 2018]

John Thomas April 24, 2018 Tags: ,
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Mortgage Rates Weekly Update for April 23, 2018

Mortgage Rates Update for April  23, 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 continued to move higher last week as mortgage bonds broke through another floor of support.  If you look at the mortgage bond chart below you can see the trend is for mortgage bonds to sell off in the short term and the long term.  Mortgage bonds broke out of a sideways trading channel to the downside because Treasury Yields have spike higher forcing mortgage bonds to sell off.  Mortgage bonds are sitting another floor of support that doesn’t seem likely to hold so we are continuing to recommend LOCKING your mortgage rate to start the week. Keep Reading...

Mortgage Rates Weekly Update [April 16 2018]

John Thomas April 16, 2018 Tags: ,
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Mortgage Rates Weekly Update for April 16, 2018

Mortgage Rates Update for April 16, 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 to end the week as mortgage bonds sold off.  If you look at the mortgage bond chart below you can see mortgage bonds have broken beneath support and fell back into a sideways trading channel they had been in for months.  Bonds ended at the bottom of the channel and have not confirmed support yet.  We are recommending LOCKING your mortgage rate to start the week until mortgage bonds can find a floor of support and rally higher as if break through the trading channel have more room to sell off  and move mortgage interest rates even higher. Keep Reading...