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Mortgage Rates Weekly Update for Jan 4 2016

John Thomas January 4, 2016 Tags: , , , ,
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Mortgage Rates Weekly Update Jan 4 2016

Mortgage Rates weekly market update for the Week of January 4, 2016 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

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Mortgage Rates were able to stabilize last week and end the week slightly lower than they started as the bond was able to hammer out a bottom and bounce higher.  If you take a look at the mortgage bond chart below from 12-31-2015 you can see mortgage bonds ended the week with a Green Candle showing bonds bouncing off support.  We are recommending starting the new year FLOATING your mortgage rate to see if bonds can continue to rally higher.  If bonds switch and sell off, we would quickly switch to a locking stance. Keep Reading...

Mortgage Rates Weekly Update Dec 21 2015

John Thomas December 20, 2015 Tags: , , , , , , ,
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Mortgage Rates Weekly Update Dec 21 2015

Mortgage Rates weekly market update for the Week of December 21, 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

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Mortgage Rates were able to move lower after several weeks of moving up.  If you look at the mortgage bond chart below you can see bonds were finally able to bounce off a floor of support and move higher after several weeks of trending lower.  The short term trend is for bonds to move higher and interest rates lower but bonds are up against a tough over head ceiling of resistance so in order to continue to move higher will need to break through and close above ceiling of resistance.  With the short term trend of bonds to move higher, we are recommending FLOATING your mortgage interest rate to start the week.  But if bonds get turned lower at overhead resistance, we will quickly recommend switching to a locking stance. Keep Reading...

Dover Home Buyer Seminar Jan 30 2016

John Thomas December 19, 2015 Tags: , , , ,
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Dover Home Buyer Seminar

Delaware First Time Home Buyer Seminar on Saturday January 30, 2016 at 10 AM in Dover, Delaware. The seminar will last about 2 hours and each participate will be able to receive a copy of their tri-merge credit report, budgeting worksheet, credit score handbook, & home buying handbook. The seminar will cover all of the basics of buying a new home in Delaware.

Home Buyer Seminar Topics

The seminar will cover FHA loans, Delaware VA loans, Delaware USDA Rural Housing Loans, First Time Home Buyer Loan Programs and the FHA 203k Rehab loans. You will be able to get pre-approved at the seminar by a Delaware Mortgage Company. Keep Reading...

FHA Loan Limits for 2016

John Thomas December 19, 2015 Tags:
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FHA Loan Limits 2016

Federal Housing Administration released FHA Loan Limits for 2016 on December 9, 2015 with the release of Mortgagee Letter 2015-30.  The minimum maximum FHA Loan limit remained at $271,050 and the maximum FHA Loan limit in high cost area remained at $625,500.  The maximum loan limit for a FHA Loan is set by the median house price in the county in which the property is located.  The FHA loan limits for 2016 are for FHA Loans with case numbers assigned on or after January 1, 2016.

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FHA increased loan limits in 188 counties across the country and didn’t decrease loan limits in any counties.  The FHA Loan limits remained the same in Delaware, Maryland, and Pennsylvania.  Search the FHA Loan limit in any county in the United States at HUD’s website at FHA Loan Limit Search Keep Reading...

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

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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

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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...