Mortgage Rates Weekly Update for January 9 2017

John Thomas January 8, 2017 Tags: Delaware Mortgage Rates, mortgage rates

Mortgage Rates Weekly Update for January 9, 2017

Mortgage Rates Weekly Update for January 9, 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 lower last week as mortgage bonds were able to continue to rally for the second straight week. If you look at the mortgage bond chart below you can see mortgage bonds have been moving up since about December 20, 2016 after hitting the lowest point for bonds in 2 years and the highest point for mortgage interest rates. Bonds found floor of support and were able to rally higher and broke through ceiling of resistance. Mortgage bonds have stopped at ceiling of resistance and were turned lower. We are looking for bonds to make another run at breaking through the ceiling of resistance so we are recommending FLOATING your mortgage rate to start the week. Keep Reading...

Mortgage Rates Update for December 19 2016

John Thomas December 18, 2016 Tags: Delaware Mortgage Rates, Delaware mortgages, mortgage loans, mortgage rates

Mortgage Rates Update for December 19, 2016

Mortgage Rates Update for December 19, 2016 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 set another record high for 2016 last week as mortgage bonds continued to sell off. If you look at the mortgage bond chart below you can see mortgage bonds broke below support on Wednesday after Federal Reserve announced it was raising Fed Funds Rate. The big red candle stretched all the way down to the next level of support. We are recommending FLOATING your mortgage rate to start the week to see if mortgage bonds can rebound off support and move higher to move interest rates lower. Now is the time to get out and buy a home as the longer your wait, the higher the rates will be and the higher the price of the home. Keep Reading...

Mortgage Rates Weekly Update 12-12-2016

John Thomas December 11, 2016 Tags: Delaware Mortgage Raes, mortgage loans, mortgage rates, mortga\ges

Mortgage Rates Weekly Update for December 12, 2016

Mortgage Rates Weekly Update for December 12, 2016 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 after trying to rallying off support but falling to sustain after stock market has two days of record highs. If you look at the mortgage bond chart below you can see mortgage bonds have been trading in a “down escalator” pattern trading between the two green lines. Mortgage bonds tried to break out of the pattern higher which would have moved interest rates lower but were pulled back on Friday. Mortgage bonds ended on Friday just above support so we are recommending FLOATING your mortgage rate to start the week to see if mortgage bonds can bounce higher off support and move mortgage interest rates lower. Keep Reading...

New Castle County IDEA Down Payment Program

John Thomas December 9, 2016 Tags: IDEA down payment program, NCC IDEA, New Castle County IDEA

New Castle County IDEA Down Payment Program

A Delaware down payment assistance program that provides loans up to $5,000 at 0% interest is the New Castle County IDEA Down Payment Program. IDEA stands for Innovative Development Empowerment Area and is a down payment and settlement assistance program to help home buyers purchasing homes in eligible census tracs in New Castle County Delaware. Call 302-703-0727 to apply for the program or APPLY ONLINE

What is the New Castle County IDEA Program?

The IDEA provides home buyers with second mortgage loans at 0% for the purchase of homes in approved census trac areas for down payment and/or settlement assistance. It is a 10 year loan at 0% interest with no required payments for the first year of the program then the loan will be paid back during the remaining 9 years on a monthly basis. Keep Reading...

Mortgage Rates Weekly Update 12-5-2016

John Thomas December 4, 2016 Tags: Delaware Mortgage Rates, Delaware mortgages, mortgage loans, mortgage rates, mortga\ges

Mortgage Rates Update for December 5, 2016

Mortgage Rates update for the Week of December 5, 2016 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 than they started as mortgage bonds continued to their downward move. If you look at the mortgage bond chart below you can see the trend line has been for mortgage bonds to sell off and move mortgage interest rates higher. Mortgage Bonds did find a floor of support and bounced higher off 2016 lows so we are recommending FLOATING Your mortgage rate to see if mortgage bonds can move higher and move mortgage rates lower. Keep Reading...

Mortgage Rates Update November 21 2016

John Thomas November 20, 2016 Tags: Delaware Mortgage Rates, Delaware mortgages, mortgage loans, mortgage rates

Mortgage Rates Update for November 21, 2016

Mortgage Rates update for the Week of November 21, 2016 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 to the highest level for 2016 on Friday as mortgage bonds continued to sell off. If you look at the mortgage bond chart below you can see the series of long red candles which show the bond continues to sell off and break through each floor of support. Last Week we saw a false bounce back higher on bonds that didn’t as Thursday resumed the sell off in Bonds and followed through again on Friday. The technicals show a strong sell signal still for bonds so rates could continue to move higher therefore we recommend LOCKING your mortgage rate to start the week. Keep Reading...

Mortgage Rate Weekly Update 11-14-2016

John Thomas November 12, 2016 Tags: DE Mortgage Rates, Delaware Mortgage Rates, Delaware mortgages, mortgage loans, mortgage rates

Mortgage Rate Weekly Update for November 14, 2016

Mortgage Rate Weekly update for the Week of November 14, 2016 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 Spiked Higher after Donald Trump was elected the new President of the United States. If you look at the bond chart below you can see mortgage bonds broke through support at the 200 day moving average on Tuesday Election day. This was a bad sign for bonds and on Wednesday bonds follow through by selling off again and breaking through 2 more floors of support to end down almost 100 bps. Thursday mortgage bonds again sold off and broke through 2 more floors of support. This is very bad technical data and bonds more room to sell of before hitting the next floor of support. Mortgage Rates moved higher as the market priced in the risk of a Donald Trump Presidency with his stated policy anticipating a rise in inflation. Inflation is bad for fixed investment assets like bonds so bonds sold off in dramatic fashion jumping mortgage rates anywhere from 0.25% to 0.5% higher depending on your qualifying factors. We recommend to LOCKING your mortgage rate as interest rates could continue to rise as the market digests what affect a Trump Presidency will have on the markets. Keep Reading...

Mortgage Rates Update for November 7, 2016

John Thomas November 6, 2016 Tags: Delaware Mortgage Rates, Delaware mortgages, mortgage loans, mortgage rates

Mortgage Rates Update for November 7, 2016

Mortgage Rates update for the Week of November 7, 2016 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 finally stabilized and stopped moving higher last week as mortgage bonds found support at the 200 day moving average. If you look at the mortgage bond chart below you can see mortgage bonds sold off and were able to stabilize at the 200 day moving average which is the blue horizontal line. We are recommending FLOATING Your Mortgage Rates to Start the week to see if bonds can bounce off the support and move interest rates lower. Keep Reading...