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Mortgage Rates Weekly Update [August 27 2018]

John Thomas August 27, 2018 Tags: ,
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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: ,
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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...

Mortgage Rates Weekly Update [August 13 2018]

John Thomas August 12, 2018 Tags: ,
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Mortgage Rates Weekly Update for August 13, 2018

Mortgage Rates Update for August 13, 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 as mortgage bonds were able to rally higher as stock market sold off.  If you look at the mortgage bond chart below you can see mortgage bonds hit a low on August 1st and have rallied higher since but have not been able to break above the 100 day and 50 day moving averages which are very strong overhead resistance.  Bonds have benefited from a sell off in the Stock Market because of weak world currencies against the US dollar.  We are recommending LOCKING your mortgage rate to the week as it will be very hard mortgage rates to move much lower from here with very strong resistance for bonds at the 100 day moving average. Keep Reading...

The Lowdown on Delaware Down Payment Grants

John Thomas August 10, 2018 Tags: , , ,
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Delaware Down Payment Grants Bridge the Gap

For Delaware buyers that are having trouble stretching their savings for the required down payment for their desired mortgage, Delaware Down Payment Grants Down can be a life saver. The grants were designed to assist buyers who find themselves short of the down payment and usually don’t have to be repaid. This makes them an ideal helper to anyone looking to secure financing for their home buying journey.

It is definitely worth it to go through the sometimes tedious process to get approved for the grants – much of the money goes unclaimed. There are a few things you need to know about Delaware Down Payment Grants: Keep Reading...

Mortgage Rates Weekly Update [August 6 2018]

John Thomas August 6, 2018 Tags: ,
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Mortgage Rates Weekly Update for August 6, 2018

Mortgage Rates Update for August 6, 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 slightly lower as mortgage bonds were able to rally to end the week after the July Jobs Report was released on Friday.  If you look at the mortgage bond chart below for the Fannie Mae 4.0% Mortgage Bond you can see mortgage bonds were able to bounce higher off a weak floor of support created at the green horizontal line on the chart.  Mortgage bonds have a very tough over head ceiling of resistance formed by 4 different resistance levels which are the 25 day moving average, 50 day moving average, 100 day moving average and a technical Fibonacci level at 101.988.  There is also 40 basis point to drop before next strong level of resistance so with bonds in the middle of a touch trading range and very tough overhead resistance we are recommending LOCKING your Mortgage Rate to start the week as the risk out weighs the reward. Keep Reading...

Mortgage Rates Weekly Update [July 30 2018]

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

Mortgage Rates Update for July 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 ended the week lower as mortgage bonds broke beneath the 50 moving average.  If you look at the mortgage bond chart below for hr Fannie Mae 30 year 4.0% coupon, you can the short term trend is for mortgage bonds to sell off and move mortgage interest rates higher.  Bonds rallied off a very weak support line in Green after GDP was reported on Friday.   We are recommending LOCKING your mortgage rate to start the week as mortgage bonds are trading below the 50 day moving average and have a lot of room to move lower if break below current levels. Keep Reading...

Mortgage Rates Weekly Update [July 23 2018]

John Thomas July 22, 2018 Tags: ,
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Mortgage Rates Weekly Update for July 23, 2018

Mortgage Rates Update for July 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 ended the week about where they started as mortgage bonds failed to break above the 100 day moving average again.  If you look at the mortgage bond chart below you can see mortgage bonds have been stuck trading in a sideways pattern and have been unable for several weeks to break out higher by closing above the 100 day moving average to mount a rally higher in bonds which would move mortgage interest rates lower.  We are recommending LOCKING your mortgage rate on any loans closing in the next 30 days, if you are more than 45 days out you could float to see if mortgage bonds can get some momentum to break through the 100 day moving average but if bonds break below the floor of support we would recommend switching to a locking stance. Keep Reading...

Mortgage Rates Weekly Update [July 16 2018]

John Thomas July 15, 2018 Tags: ,
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Mortgage Rates Weekly Update for July 16, 2018

Mortgage Rates Update for July 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 were unable to break out above the 100 day moving average last so mortgage rates ended the week about where they started.  If you look at the mortgage bond chart below you can see mortgage bonds traded in a tight channel last week after failing to continue to rally from previous week and fell back below the 100 day moving average.  Bonds closed right at the top of the channel to end the week but failed to break through so we are recommending LOCKING your mortgage rate on any loans closing in the next 30 days, if you are more than 45 days out you could float to see if mortgage bonds can get some momentum to break through the 100 day moving average but if bonds break below the floor of support we would recommend switching to a locking stance. Keep Reading...