Delaware Mortgage Rates weekly mortgage market update for the Week of September 15, 2014, by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Newark, Delaware Branch Manager and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware Mortgage Rates moved higher all week last week to end the week about where rates were in May 2014. The fear that the Feds will raise the short term interest rates sooner rather than later sparked a sell-off in the Bond Market as well as the Stock Market which caused interest rates to move higher. If you look at the mortgage bond chart below, you can see that each day last week closed lower than the date before with the series of red candles. Mortgage bonds broke beneath floors of support and have stopped just above the 200 days moving average. If bonds stop here next week they could rally higher but there is still some downside before hit the next floor of support and the short term trend is for bonds to continue to fall. Therefore we are continuing to recommend LOCKING your Delaware Mortgage Rate if closing in the next couple days to several weeks as the risk is still for rates to move higher. We do see a recovery in bonds as they are currently oversold but the recovery could be several weeks down the road. Keep Reading...

Delaware Mortgage Rates weekly mortgage market update for the Week of September 8, 2014, by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Newark, Delaware Branch Manager and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware Mortgage Rates continued to hover around lows for 2014 on last Friday as weakness in the stock market pushed mortgage bonds higher. If you look at the mortgage bond chart below you can see the big green candle on Friday as mortgage bonds rallied and touched the all-time highs for 2014 before retreating lower. We are recommending LOCKING any short term transactions that are closing in days to weeks as the bond was turned lower after hitting the ceiling of resistance so could have a short term pullback which would move interest rates higher. Keep Reading...