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Mortgage Rates Weekly Update for Dec 14 2015

John Thomas December 13, 2015 Tags: , , , , , , ,
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Mortgage Rates Weekly Update for Dec 14, 2015

Mortgage Rates weekly market update for the Week of December 14, 2015 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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 have been moving up and down by about 0.25% over the last couple weeks as bonds have traded in a choppy fashion.  If you look at the mortgage bond chart below, you can see the up and down black arrows following the changing short term trend of the bond going up and down.  We ended the week with mortgage bonds once again bouncing off support and starting to reverse a downward trend and moving higher with the green candle on Friday.  Therefore we are recommending FLOATING your mortgage rate to start the week. Keep Reading...

First Time Home Buyer Seminar Jan 16 2016

John Thomas December 13, 2015 Tags: , ,
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First Time Home Buyer Seminar

There will be a First Time Home Buyer Seminar on Saturday January 16, 2016 at 10:00 AM till Noon. The seminar will last about 2 hours and each participate will be able to receive a copy of their credit report. The seminar will cover all of the basics of buying a home in Delaware. The seminar will cover FHA loans, VA loans, USDA Rural Housing Loans, First Time Home Buyer Loan Programs and the FHA 203k Rehab loans.

The Seminar is sponsored by The Neighborhood House so each participant will receive home buyer counseling credit toward the required HUD approved home buyer counseling required for Delaware First Time Home Buyer Programs. Keep Reading...

Mortgage Rates Weekly Update for December 7, 2015

John Thomas December 6, 2015 Tags: , , ,
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Mortgage Rates Weekly Update

Mortgage Rates weekly market update for the Week of December 7, 2015 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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 the bond market sold off in anticipation of the Federal Reserve raising the short term interest rates.  If you look at the mortgage bond chart below, you can see bonds sold off all week but were finally able to find a floor of support on Friday with the green candle.  With the Jobs Report behind us the bond able to find a floor of support, we are recommending FLOATING your mortgage interest rate to start the week. Keep Reading...

First Time Home Buyer Seminar Saturday Dec. 12, 2015

John Thomas December 6, 2015 Tags: , , ,
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Delaware First Time Home Buyer Seminar

There will be a First Time Home Buyer Seminar on Saturday December 12, 2015 at 10:00 AM till Noon. The seminar will last about 2 hours and each participate will be able to receive a copy of their credit report. The seminar will cover all of the basics of buying a home in Delaware. The seminar will cover FHA loans, VA loans, USDA Rural Housing Loans, First Time Home Buyer Loan Programs and the FHA 203k Rehab loans.

The Seminar is sponsored by The Neighborhood House so each participant will receive home buyer counseling credit toward the required HUD approved home buyer counseling required for Delaware First Time Home Buyer Programs. Keep Reading...

Mortgage Rates Weekly Update for August 24, 2015

John Thomas August 23, 2015 Tags: , , , , ,
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Mortgage Rates weekly market update for the Week of August 24, 2015 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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 in recent days as the Stock Market plunged after weak global economic news.  If you take a look at the mortgage bond chart below you can see mortgage bonds were able to rally off support last week and move higher.  BUT with the stock market plunging over 500 points on Friday and mortgage bonds only ending the day up 9 points we are recommending LOCKING Your Mortgage Rate to start the week.  Mortgage bonds failed to move above the 200 day moving average even with the stock market sell off which is a bad sign for mortgage bonds. Keep Reading...

Mortgage Rates Weekly Update for August 10, 2015

John Thomas August 10, 2015 Tags: , , , , ,
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Mortgage Rates weekly market update for the Week of August 10, 2015, by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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 reached the lows not seen since May on Monday last week but then sold off till hit floor of support on Wednesday.  If you look at the mortgage bond chart below you can see bonds were able to rally off support on Wed. Bonds ended the week below where they started so mortgage interest rates did rise but with mortgage bonds rallying off support, we are recommending FLOATING your mortgage rate to start the week. Keep Reading...

Delaware First Time Home Buyer Seminar August 29, 2015

John Thomas August 9, 2015 Tags: , , , ,
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Delaware Home-Buyer Seminar

There will be a First Time Home Buyer Seminar on Saturday, August 29, 2015, at 10:00 AM till Noon. The seminar will last about 2 hours and each participant will be able to receive a copy of their credit report. The seminar will cover all of the basics of buying a home in Delaware. The seminar will cover FHA loans, VA loans, USDA Rural Housing Loans, First Time Home Buyer Loan Programs, and the FHA 203k Rehab loans.

The Seminar is sponsored by The Neighborhood House so each participant will receive home buyer counseling credit toward the required HUD-approved home buyer counseling required for Delaware First Time Home Buyer Programs. Keep Reading...

Mortgage Rates Weekly Update for August 3, 2015

John Thomas August 2, 2015 Tags: , , , , ,
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Mortgage Rates weekly market update for the Week of August 3, 2015, by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Branch Manager, a 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 finally able to reverse the trend and move lower last week as mortgage bonds broke through a tough ceiling of resistance.  If you look at the mortgage bond chart below, you can see the blue arrow shows the short term trend is now for bonds to move higher which moves mortgage interest rates lower.  The big green candle on Friday shows bonds closing above a huge resistance that has turned bonds lower in the past which had created a “triple top” at 103.68 which is a technical signal for bonds to sell off and move lower if don’t break through this top.  Since we broke through the triple top and closed above it at 103.84, it is a good sign for mortgage bonds to now use this previous resistance as support.  We are recommending FLOATING your Mortgage Rate to start the week but be cautious as we get close to Friday as the Jobs Report for July could be a market mover. Keep Reading...