Mortgage Rates Weekly Update [December 25 2017]

John Thomas December 23, 2017 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for December 25, 2017

Mortgage Rates Update for December 25, 2017 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 sold off after failing to break through a tough ceiling of resistance. If you look at the mortgage bond chart below you can see mortgage bonds have been on downward trend since failing to break through a tough ceiling of resistance at the beginning of December. Mortgage bonds had been trading in a sideways pattern stuck between a ceiling of resistance and a floor of support. Mortgage bonds broke out of that trading channel to the downside last week moving mortgage interest rates higher. Mortgage bonds did find a floor of support on Friday so we are recommending carefully FLOATING your Delaware mortgage rate if you failed to lock your rate but if mortgage bonds continue to sell off and break below this current floor of support we will have to recommend you lock your interest rate ASAP. Keep Reading...

Wilmington Delaware Down Payment Assistance Program

John Thomas December 22, 2017 Tags: Delaware Down Payment Program

Wilmington Delaware Employee Homebuyer Assistance Program

What is the Wilmington Delaware Down Payment Assistance Program?

The Wilmington Employee Homebuyer Assistance Program is a grant program offered by the City of Wilmington where an employee can earn up to $4,000 in down payment and settlement assistance toward the purchase of a home. Homes must be within the City of Wilmington boundaries and meet specific requirements set by the City of Wilmington for their Liver Near Your Work Program. The John Thomas Team can help get you prepared for homeownership with our first time homebuyer programs in Wilmington – call (302) 703-0727 or Apply Online.
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Mortgage Rates Weekly Update [December 18 2017]

John Thomas December 17, 2017 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for December 18, 2017

Mortgage Rates Update for December 18, 2017 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 right about where they started after a roller coaster week of moving higher than falling lower to end the week. If you look at the mortgage bond chart below you can see mortgage bonds started the week on Monday slightly higher than they ended the previous week but sold off to end the day on Monday moving mortgage interest rates lower. Mortgage bonds continued to sell of until Wednesday after the Federal Reserve announced they would raise the Fed Funds Rate 0.25%. Mortgage bonds ended the week by closing just below a touch a ceiling of resistance that has persisted October. We are recommending LOCKING your mortgage rate to start the week because mortgage bonds are once again up against a tough a ceiling of resistance with lots of room to sell off to the downside. Keep Reading...

Mortgage Rates Weekly Update [December 11 2017]

John Thomas December 9, 2017 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for December 11, 2017

Mortgage Rates Update for December 11, 2017 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 as mortgage bonds bounce off support to trade higher. If you look at the mortgage bond chart below you can see mortgage bonds have been stuck in a sideways trading pattern alternating between ceiling of resistance and floor of support but has failed to break out of the channel. Mortgage bonds closed Friday just below the ceiling of resistance and failed to break out of the channel higher but settled on a triple layer of support formed by the 50 day moving average, the 200 day moving average and a Fibonacci level. We are recommending carefully FLOATING your mortgage rate to start the week to see if mortgage bonds can rally off support and break through the ceiling of resistance to move mortgage interest rates lower. Keep Reading...

FHA Loan Limits for 2018

John Thomas December 8, 2017 Tags: FHA Loan Limits

FHA Loan Limits for 2018

The Federal Housing Administration announced FHA Loan Limits for 2018 effective with FHA case numbers assigned on or after January 1, 2018. The Minimum maximum FHA loan limit is increasing from $275,665 to $294,515 which is a 6.8% increase in the floor loan limit for FHA loans. Do you need to get approved for a FHA Loan? Call 302-703-0727 or APPLY ONLINE

Consistent with the Federal Housing Finance Agency (FHFA) increases to their conventional loan limits for 2018, FHA increased the ceiling in high cost areas of the county to $679,650 from $636,150. Keep Reading...

The Financial Benefits of Owning Your Home

John Thomas December 7, 2017 Tags: Delaware First Time Home Buyer

Owning Your Own Home is a Financial Goldmine for Delaware First Time Home Buyers

By now, it’s hard to ignore the facts: owning your home carries huge advantages over renting. Homeownership comes with, among other things, financial perks that just aren’t available to renters. Even with all the advantages of owning a home, many people continue to rent. This opens them up to needlessly stressful situations (including things like unchecked repairs and consistently rising rent). Owning a home is becoming easier and easier with the large pool of mortgage loan programs available to potential Delaware First Time Home Buyers. Delaware home seekers can start their home buying journey easily by calling the John Thomas Team at 302.703.0727, or by applying online. Keep Reading...

Mortgage Rates Weekly Update [December 4 2017]

John Thomas December 3, 2017 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for December 4, 2017

Mortgage Rates Update for December 4, 2017 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 sold off on news that the tax bill will be passed. If you look at the mortgage bond chart below you can see mortgage bonds sold off till Friday where they were able to rebound on news that Michael Flynn will testify against President Donald Trump. The Senate passed their version of the tax bill on December 2, 2017 which is bad news for mortgage bonds so we are recommending LOCKING your mortgage rate to start the week. Keep Reading...

FHFA Announces Increase to Maximum Conventional Loan Limits 2018

John Thomas December 1, 2017 Tags: Conventional Loan Limits, Conventional Loans

Official News From FHFA – Conventional Loan Limit Increasing in 2018

The Federal Housing Finance Agency (FHFA) announced that the current maximum loan limit for conventional loans with Fannie Mae and Freddie Mac is increasing with the release of Lender Letter LL-2017-10 for conventional loan limits 2018. That means Delaware homebuyers seeking larger Delaware conventional loans can now do so without having to apply for a Jumbo loan.

Currently, the maximum for conventional loans in the US is $424,100. Starting January 1st, 2018, conventional loan limits in counties across the U.S (including Delaware counties Kent, Sussex, and New Castle) will rise to $453,100 for one-unit properties. This represents a 6.8% increase from the current 2017 maximum conventional loan limit. The John Thomas Team has all the information you’ll need to get started – call us at 302.703.0727 or Apply Online. Keep Reading...