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Delaware Mortgage Rates Weekly Update for June 24, 2013

John Thomas June 23, 2013 Tags: , , , , ,
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Delaware mortgage rates weekly market update for the week of June 24, 2013, by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John is the Newark, Delaware Mortgage Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware mortgage rates once again jumped higher last week which marks the eighth straight week mortgage rates have moved higher since May 1st.  If you look at the mortgage bond chart below you can see that mortgage bonds sold off on Wednesday after Ben Bernanke made comments after the Federal Open Market Committee released their meeting minutes. Bernanke’s comments caused stock, bonds, and oil to sell off as he stated the economy was doing better so the Federal Asset purchase program would begin tapering purchasing this year and end it by mid-2014. This was in contrast to what the Federal Reserve has been saying so markets went crazy. Bonds sold off again on Thursday and then again on Friday which moved mortgage rates back to where they were in October 2011. We are recommending cautiously FLOATING your Delaware mortgage rate to start the week as mortgage bonds may seem cheap here and we may get buyers coming back into the market. Keep Reading...

Delaware Mortgage Rates Weekly Market Update for June 17, 2013

John Thomas June 16, 2013 Tags: , , , , , ,
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Delaware mortgage rates weekly market update for the week of June 17, 2013, by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John is the Newark, Delaware Mortgage Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware mortgage rates were finally able to stabilize last week and stop their trek higher. We saw mortgage rates were able to improve slightly as the mortgage bond found a bottom of support and was able to bounce higher as can been seen from the bond chart below. We are recommending cautiously FLOATING your Delaware mortgage rate to start the week to see if bonds can continue to trade higher. If bonds reverse course and sell off again we will quickly switch to a locking stance. Keep Reading...

Maryland First Time Home Buyer Seminar July 20, 2013

John Thomas June 16, 2013

Maryland First Time Home Buyer Seminar

There will be a Free Maryland First Time Home Buyer Seminar on Saturday, July 20, 2013, at 10:00 AM till Noon. The seminar will last about 2 hours and each participant will be able to receive a free 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 Free Credit Scoring Handbook, Free 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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Delaware Mortgage Rates Weekly Mortgage Market Update for June 10, 2013

John Thomas June 10, 2013 Tags: , , , , , ,
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Delaware mortgage rates weekly market update for the week of June 10, 2013, by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John is the Newark, Delaware Mortgage Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware mortgage rates continue to move higher as the mortgage bond struggles to find a bottom of the support. If you look at the mortgage bond chart below you can see mortgage bonds have been selling off and stepping lower almost every week since the beginning of May 2013. We are hoping the bond can find a bottom here and bounce higher as indicated by the arrow but if bonds move lower than downward trend will continue in bonds. We are recommending LOCKING your Delaware mortgage rate as the bond has not been able to hold a level of support so the risk is for rates to continue to move higher. Keep Reading...

Delaware Mortgage Credit Certificate Program

John Thomas June 5, 2013 Tags: , , , ,
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Delaware MCC

Delaware Mortgage Credit Certificate Program

Delaware mortgage credit certificate program also known as the MCC for short, was being released by the Delaware State Housing Authority (DSHA) under section 25 of the Internal Revenue Code of 1986 in order to benefit eligible purchasers  of single-family dwelling units located within the State of Delaware, by allowing such eligible borrowers to a credit against their individual federal income tax liability.  The Mortgage Credit Certificate (MCC) is also called a First Time Home Buyer Tax Credit.  The program needs to be applied for through an eligible Delaware Mortgage Lender such as Primary Residential Mortgage in Newark, Delaware.  You can apply for the Delaware Mortgage Credit Certificate by calling 302-703-0727 or you can APPLY ONLINE. Keep Reading...

Delaware Mortgage Rate Weekly Update for June 3, 2013

John Thomas June 2, 2013 Tags: , , , , , ,
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Delaware mortgage rate weekly update for the week of June 3, 2013, by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John is the Newark, Delaware Mortgage Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware mortgage rates moved higher again last week after a big sell-off on Tuesday in the mortgage bond market as you can see on the mortgage bond chart below. The big Red Candle on Tuesday shows the bond market dropped over 100 basis points moving mortgage rates higher. Mortgage rates have been moving higher since the beginning of May when rates were at all-time record lows. The bond tried to stabilize to end the week so we are recommending FLOATING your Delaware mortgage rate to start the week but if mortgage bonds resume their sell-off we will quickly switch to a locking stance. Keep Reading...

Dover Delaware First Time Home Buyer Seminar June 18, 2013

John Thomas June 2, 2013 Tags: , , , ,

Free Delaware First Time Home Buyer Seminar on Tuesday, June 18, 2013, at 6:30 PM in Dover, Delaware. The seminar will last about 2 hours and each participant will be able to receive a free copy of their tri-merge credit report. The seminar will cover all of the basics of buying a new 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. You will be able to get pre-approved at the seminar by a Delaware Mortgage Company. Keep Reading...

Delaware Mortgage Rates Weekly Mortgage Market Update for Week of May 27, 2013

John Thomas May 27, 2013 Tags: , , , , , , ,

Delaware mortgage rates weekly mortgage market update for the week of May 27, 2013, by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John is the Newark, Delaware Mortgage Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware mortgage rates jumped up last week on Wednesday after Ben Bernanke made a speech on the state of the economy and the Federal Reserve Bond Buying Program. If you look at the mortgage bond chart below you can see the GIANT red candle on Wednesday, May 22, 2013.  The Red Candle means mortgage bonds sold off causing home loan rates to move higher. Mortgage rates have been moving higher since hitting all-time record lows on May 1, 2013. The trend as can be seen from the chart is for mortgage bonds to keep moving lower forcing rates higher. Mortgage bonds did hold a line of support on Thursday and Friday so we may be seeing a bottom here so we are recommending FLOATING your Delaware mortgage rate to start the week. But if mortgage bonds break below the line of support and continue trend lower we would recommend switching to a locking stance as interest rates will continue their trek higher. Keep Reading...