Mortgage Rates Update for March 6 2017

John Thomas March 4, 2017 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Update for March 6, 2017

Mortgage Rates Update for March 6, 2017 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. 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 all week. If you look at the mortgage bond chart below you can see mortgage bonds sold off on Monday after hitting tough ceiling of resistance on previous Friday. Mortgage Bonds continued to see off all week until finally finding a floor of support on Friday and closing with a green candle on the chart. Bonds were able to close above support into the middle of the trading channel so we are recommending FLOATING your mortgage rate to start the week. Keep Reading...

DSHA SMAL Down Payment Assistance Loan

John Thomas March 3, 2017 Tags: Delaware down payment programs, DSHA SMAL

DSHA SMAL Down Payment Assistance Loan Program

(DSHA SMAL Program NO LONGER AVAILABLE!!!)

DSHA SMAL Down Payment Assistance Loan Program is a Delaware Down Payment Program for qualified Delaware home buyers who meet the income restrictions and credit requirements. The program was discontinued by DSHA in May of 2018 and replaced with the DSHA Preferred Plus Down Payment Program. The Delaware State Housing Authority Small Mortgage Assistance Loan (SMAL) program is a second mortgage loan of up to $8,000 at 3% interest for the term of the loan. You can apply for a SMAL loan by calling 302-703-0727 or online at SMAL Loan Application
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Mortgage Rate Weekly Update for February 27 2017

John Thomas February 26, 2017 Tags: mortgage rate

Mortgage Rate Weekly Update for February 27, 2017

Mortgage Rate Weekly Update for February 27, 2017 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. 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 Rate were able to move lower to end the week as mortgage bonds were able to rally higher. If you look at the mortgage bond chart below you can see mortgage bonds were able to rally higher off support and ended the week at a level of resistance. We are recommending LOCKING your mortgage rate to start the week to take advantage of the recent move lower along with mortgage bonds facing a stiff overhead resistance which turned bonds lower the last time they tested this level. Keep Reading...

Mortgage Rates Weekly Update for February 6, 2017

John Thomas February 6, 2017 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for February 6, 2017

Mortgage Rates Weekly Update for February 6, 2017 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. 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 than where they started the week. If you look at the mortgage bond chart below you can see mortgage bonds have been trading in a tight band between the blue lines for the past several weeks. Mortgage bonds were able to bounce off support from the bottom blue line and move higher as you can see with the green candles at the end of the week. We are going to recommend FLOATING Your Mortgage Rate to start the week to see if bonds can rally higher after bouncing off support. Keep Reading...

Mortgage Rate Weekly Update for January 30, 2017

John Thomas January 29, 2017 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rate Weekly Update for January 30, 2017

Mortgage Rate Weekly Update for January 30, 2017 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. 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 higher as stock markets hit record levels. If you look at the mortgage bond chart below you can see the trend is for mortgage bonds to sell off but bonds were ale to find a floor of support on Thursday and ended the week with a green candle so we are recommending FLOATING your mortgage rate to start the week to see if mortgage bonds can recover. Keep Reading...

Mortgage Rates Weekly Update January 23, 2017

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

Mortgage Rates Weekly Update for January 23, 2017

Mortgage Rates Weekly Update for January 23, 2017 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. 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 reports of higher inflation. If you look at the mortgage bond chart below you can see mortgage bonds were turned lower last Monday with the red candle following the previous Friday’s attempt to move higher. Mortgage bonds then sold off the rest of the week until finding a bottom on Thursday and moving higher on Friday with a Green Candle. We are recommending FLOATING Your mortgage rate to start the week to see if bonds can recover from the sell off and move back higher which would move mortgage rates lower. Keep Reading...

Mortgage Interest Rates Weekly Update 1-16-2017

John Thomas January 16, 2017 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Interest Rates Weekly Update for 1-16-2017

Mortgage Interest Rates Weekly Update for January 16, 2017 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. 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 Interest Rates ended the week slightly higher as mortgage bonds sold off on Thursday and Friday to end the week. If you look at the mortgage bond chart below you can see Mortgage bonds have reversed their upward trend and are now trending lower after being turned lower at a tough ceiling of resistance. We are recommending LOCKING your mortgage interest rate to start the week to lock in the gains we have seen the last couple of weeks with a tough over head ceiling of resistance putting a cap on mortgage bonds. Keep Reading...

FHA Mortgage Insurance Premium Reduced January 27, 2017

John Thomas January 9, 2017 Tags: FHA Mortgage Insurance, FHA Mortgage Insurance Premium

FHA Mortgage Insurance Premium Reduced January 27, 2017

FHA Mortgage Insurance Premium reduced January 27, 2017 by 0.25% on new FHA Loans. Monday January 9, 2017 HUD secretary Julian Castro announced FHA will reduce the annual mortgage insurance premium most borrower’s pay by 0.25% for new FHA loans originated on/or after January 27, 2017. Call 302-703-0727 to apply for a FHA Loan or APPLY ONLINE

2016 marked the fourth consecutive year that the FHA Mutual Mortgage insurance fund has grown and now has sufficient reserves with the capital ratio at 2.32 percent of all insurance in force which is above the 2% requirement. The drop in mortgage insurance premium comes at a time when consumers are facing higher credit costs as mortgage rates are increasing. Keep Reading...