Mortgage Rates Weekly Update [February 19 2018]

John Thomas February 19, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for February 19, 2018

Mortgage Rates Update for February 19, 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 finally stabilize last week after mortgage bonds found a floor of support. If you look at the mortgage bond chart below you can see mortgage bonds were able to bounce higher off a floor a off support (Blue Horizontal line) and end the week higher just below a ceiling of resistance. We are recommending FLOATING your mortgage rate to start the week to see if mortgage bonds can continue to rally break through the ceiling of resistance which would move mortgage interest rates lower. The long term trend is still for mortgage rates to move higher but in the short term we might be able to catch a slight improvement in interest rates by floating. If mortgage bonds switch course and break below the support from last week, we will quickly switch to a locking stance. Keep Reading...

Mortgage Rates Weekly Update [February 5 2018]

John Thomas February 4, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for February 4, 2018

Mortgage Rates Update for February 4, 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 sharply higher again last week as mortgage bonds sold off all week. If you look at the mortgage bond chart below you can see mortgage bonds continued the downward trend and bonds broker below another floor of support as US Treasury rates continue to move higher. We are recommending LOCKING your mortgage rate as mortgage bonds have more room to move downward which would move mortgage interest rates higher. Keep Reading...

Mortgage Rates Weekly Update [January 29 2018]

John Thomas January 29, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for January 29, 2018

Mortgage Rates Update for January 29, 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 lower as mortgage bonds broke below support on Friday to end the week. If you look at the mortgage bond chart below you can see mortgage bonds traded sideways most of the week but broke through support on Friday as the Stock Market continues to rally. We are recommending LOCKING your mortgage rate until mortgage bonds can find a floor of support. Long term outlook is for mortgage interest rates to continue to move up throughout 2018 as the bond market looks to turn to a bear market. If Treasury yields continue to rise it will force mortgage bond prices to fall which will move mortgage rates higher. Keep Reading...

Mortgage Rates Weekly Update [January 22 2018]

John Thomas January 22, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for January 22, 2018

Mortgage Rates Update for January 22, 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 through floor of support and sold off as the stock market continued to rally. If you look at the mortgage bond chart below you can see mortgage bonds broke beneath the floor of support and continued the trend for mortgage bonds to move lower which is moving mortgage interest rates higher. We are recommending LOCKING Your mortgage rate until mortgage bonds can find a firm floor of support. Keep Reading...

Mortgage Rates Weekly Update [January 15 2018]

John Thomas January 15, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for January 15, 2018

Mortgage Rates Update for January 15, 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 broke through support and the stock market rallied to new record highs. If you look at the mortgage bond chart below you can see mortgage bonds broke below support on Tuesday with the giant red candle. Bonds were able to find a floor of support on Wednesday and tested the floor again on Friday before recovering. We are recommending FLOATING Your mortgage rate to start the week to see if bonds can rally off the floor of support and move mortgage interest rates lower but if bonds fall below the floor of support, we will quickly switch to a locking stance as mortgage bonds would have a long way to run down before next floor of support. Keep Reading...

What You Need to Know About the USDA Repair Escrow

John Thomas January 9, 2018 Tags: USDA Rural Housing Loans

The USDA Repair Escrow Loan can Help You Close

Many home buyers find their dream home, but then hit a brick wall in the loan approval process: the appraiser says it does not meet USDA loan guidelines. The home of their dreams requires minor repairs to be completed or they will not be able to close. The seller won’t budge – they have a loan that requires all repairs to be completed before closing, but that’s impossible since the process can’t move forward without those repairs. It seems like a frustrating, impossible situation, but it can be rectified with a Delaware USDA Repair Escrow Loan. The John Thomas Team can help you navigate the specifics of the Delaware USDA Repair Escrow – give us a call today at 302.703.0727 or APPLY ONLINE. Keep Reading...

Mortgage Rates Weekly Update [January 8 2018]

John Thomas January 7, 2018 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for January 8, 2018

Mortgage Rates Update for January 8, 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 slightly higher last week after mortgage bonds failed to break above the 50 day and 25 day moving average and were turned lower as the stock market set another record high to end the week. If you at the mortgage bond chart below you can see mortgage bonds are stuck trading between the ceiling of resistance and floor of support shown by the blue lines. Bonds failed to rally above the blue line on Tuesday and were turned lower and sold off after the jobs report on Friday. We recommend starting the week FLOATING your mortgage rate to see if bonds can bounce off support and move higher but if bonds break below the floor of support we would quickly recommend LOCKING your mortgage interest rate. Keep Reading...

Delaware VA Loan Limits for 2018

John Thomas December 26, 2017 Tags: Delaware VA Loan Limits

Delaware VA Loan Limits for 2018

The Department of Veteran Affairs announced the Delaware VA loan limits for 2018 100% financing are being increased effective January 1, 2018. Eligible Delaware Veterans will be able to borrower up to $453,100 with a Delaware VA Loan for the purchase or refinance of a home in Delaware with an approved Delaware VA Lender. Call 302-703-0727 to get more information or to get approved for a Delaware Veteran Loan or get started online at APPLY ONLINE

The Delaware VA loan limits for 2018 are increasing from the 2017 VA loan limit of $424,100 to $453,100 for 2018. This is the amount that an eligible veteran can get a 100% financing. So if Vet is purchasing a home for $453,100 then VA will allow the vet to borrower $453,100. See example below: Keep Reading...