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Delaware Mortgage Rates Weekly Mortgage Rate Update for February 24, 2014

John Thomas February 23, 2014 Tags: , , , , ,
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Delaware Mortgage Rates weekly mortgage rate update for the Week of February 24, 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

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Delaware Mortgage Rates moved higher as a two-week rally in the Stock Market pulled money from bonds and drove bond prices lower. If you look at the mortgage bond chart below you can see mortgage bonds have been selling off and moving lower since hitting high on February 17th. The short term trend is for mortgage bonds to move lower as bonds are being capped by the falling 200 days moving average. We are recommending LOCKING your Delaware mortgage rate to start the week as the short term trend is for mortgage bonds to move lower. Keep Reading...

Delaware USDA Rural Housing Loan Property Eligibility Extended till 2020

John Thomas February 23, 2014 Tags: ,
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Delaware USDA Rural Housing Loan Program current eligible property areas have been extended until the 2020 Census data can be used to determine property eligibility with the passage of the 2014 Farm Bill H.R. 2642, the Agricultural Act of 2014. President Obama signed the bill into law during the first week of February 2014.

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Over 900 communities across the country were at risk of losing access to USDA Rural housing loans on October 1, 2014, when the 2010 Census data was going to be required to be used to calculate eligible areas replacing the 2000 Census data currently being used. For Delaware home buyers this means that Middletown, Delaware, and Smyrna, Delaware will continue to be eligible areas for USDA financing until post-2020. Keep Reading...

Delaware Mortgage Rates Weekly Update for February 17, 2014

John Thomas February 16, 2014

Delaware Mortgage Rates weekly mortgage rate update for the Week of February 17, 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

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Delaware mortgage rates did end the week higher as the stock market rallied and pulled money out of the bond market. If you look at the mortgage bond chart below you can see that the bond hit a six week high on Monday but sold off on Tuesday as the stock market rallied. The bond was able to hold a key level of support.  We are recommending LOCKING your Delaware mortgage rate if you are closing in the next 30 days as the short term risk for rates to continue to rise is very high but if you are closing in 45 days or longer than you can FLOAT your mortgage rate to see if bonds can bounce higher from the key level of support. Keep Reading...

Delaware First Time Home Buyer Seminar March 22, 2014

John Thomas February 16, 2014 Tags: , , ,
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Delaware First Time Home Buyer Seminar

There will be a Delaware First Time Home Buyer Seminar on Saturday, March 22, 2014, 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 tri-merge credit report. The seminar will cover all of the basics of buying a home in Delaware. The seminar will cover Delaware FHA loans, Delaware VA loans, Delaware USDA Rural Housing Loans, First Time Home Buyer Loan Programs, and the Delaware 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.

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Delaware Mortgage Rates Weekly Update for February 10, 2014

John Thomas February 9, 2014 Tags: , , , , ,

Delaware Mortgage Rates weekly rate update for the Week of February 10, 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

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Delaware mortgage rates ended the week almost where they started after a roller coaster week. If you look at the mortgage bond chart below you can see mortgage bonds sold off after reaching a high not seen since November but then sold off on Tuesday and Wednesday. The market was expecting a Jobs Report that would be strong so bonds sold off. When the Jobs Report disappointed again mortgage bonds rallied on Friday but closed right at a tough ceiling of resistance. If you didn’t LOCK your interest rate on Friday then we recommend starting the week FLOATING your Delaware mortgage rate but if bonds can’t break above the ceiling of resistance then quickly switch to a LOCKING stance. Keep Reading...

Delaware USDA Rural Housing Loan Income Limits for 2014

John Thomas February 6, 2014 Tags: , , ,
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Delaware USDA Rural Housing Loan Income Limits for 2014 remained the same as 2013 for each county in Delaware. The income limits are based on the household income for the total number of people living in the home. If you have questions about USDA Loans for the purchase or refinance of a home, please call 302-703-0727 or you can APPLY ONLINE.

The income limits for New Castle County, Kent County, and Sussex County are displayed below:

New Castle County Delaware Income Limits for USDA Rural Housing Loans for 2014:

1-4 Person         5-8 Person
Household        Household
$0 – $93,450    $0 – $123,354 Keep Reading...

Delaware Mortgage Rates Weekly Mortgage Market Update for January 27, 2014

John Thomas January 27, 2014 Tags: , , , , , ,
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Delaware Mortgage Rates weekly mortgage rate update for the Week of January 27, 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

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Delaware Mortgage Rates were able to move lower last week as mortgage bonds were able to continue to rally. If you look at the mortgage bond chart below you can see the short term trend is for mortgage bonds to move higher and move Delaware mortgage rates lower. Mortgage bonds have rallied since the December Jobs Report came out worse than expected and recently we have seen a flight to quality from international investors who are moving money into U.S. Bonds and Treasuries as a potential currency devaluation occurs in emerging markets. We are recommending FLOATING your Delaware Mortgage Rate to start the week to see if bonds can build on the momentum we had last week. Mortgage bonds have broken through a ceiling of resistance which is a good short term sign for home loan rates. Keep Reading...

Maryland Home Buyer Seminar February 22, 2014

John Thomas January 25, 2014 Tags: , , ,
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Maryland First Time Home Buyer Seminar

There will be a Maryland First Time Home Buyer Seminar on Saturday, February 22, 2014, 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 tri-merge credit report. The seminar will cover all of the basics of buying a new home in Maryland. The seminar will cover Maryland FHA loans, Maryland VA loans, Maryland USDA Rural Housing Loans, First Time Home Buyer Loan Programs, and the Maryland FHA 203k Rehab loans. Each participant will receive a Credit Scoring Handbook, Home Buying Handbook, and an opportunity to meet with a certified mortgage planner to be pre-approved to buy a home at the seminar. You will also learn the importance of credit in buying a home and learn valuable tips on how to improve your credit score. Learn what programs are available to help with down payment and closing costs. The new loan limits for conventional and FHA will be covered as well as changes to borrowing 100% financing.

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