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Mortgage Rates Weekly Update [June 18 2018]

John Thomas June 18, 2018 Tags: ,
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Mortgage Rates Weekly Update for June 18, 2018

Mortgage Rates Update for June 18, 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 move lower last week after mortgage bonds found a floor of support and rallied higher.  If you look at the mortgage bond chart below you can see mortgage bonds sold off until finding a floor of support of Wednesday and were able to rebound and rally higher on Thursday and again on Friday.  Mortgage bonds were stopped again at the 50 day moving average which they have failed to break through so we are cautious that bonds can break through this ceiling.  The Stock market is selling off in the face of trade wars overseas and mortgage bonds are still not able to break above the 50 day moving average so we are recommending to very careful FLOAT your mortgage rate to see if can break above the 50 day moving average but if stocks recover, we would quickly switch to a locking stance. Keep Reading...

New Castle County Property Taxes Increase July 1 2018

John Thomas June 15, 2018 Tags:
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New Castle County Property Taxes Increase July 1, 2018

New Castle County Property Taxes are increasing July 1, 2018 after County Council passed a budget amendment to raise the county property taxes 15% to balance the budget.  There was a budget standoff in the county council over what to cut or raise in order to balance the budget.  In a 7-5 vote County Council passed a 15 percent property tax increase to end the budget standoff.  The budget shortfall was balanced on the backs on homeowners and home buyers by increasing the property tax as well as an increase to the Sewer Bill last month by 12 percent.  The passage of the bill funds County Executive Matt Meyer’s $325 Million operating and construction budget for the up coming fiscal year.
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Mortgage Rates Weekly Update [June 11 2018]

John Thomas June 10, 2018 Tags: ,
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Mortgage Rates Weekly Update for June 11, 2018

Mortgage Rates Update for June 11, 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 have moved up from the lows of 2018 as geopolitical and trade war uncertainty have eased as well as the release of some solid economic data.  If you look at the mortgage bond chart below you can see mortgage bonds have been trending lower since hitting the high of 2018 at near the end of May.  Mortgage bonds closed just at the 25 moving average and the technical signals are not good for mortgage bonds so we recommend LOCKING your mortgage rate. Keep Reading...

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...