Delaware mortgage rate weekly mortgage market update for the week of April 22, 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 remained at all-time record lows last week as mortgage bonds traded in a tight trading range near all-time record highs for the bond. We are recommending LOCKING your Delaware mortgage rate if closing in the next 30 days to start the week as rates are at record lows but bonds could sell off and move rates higher. If closing more than 30 days you can start the week cautiously FLOATING your interest rate but would quickly switch to a locking stance if bond breaks below the 200 days moving average. If you look at the bond chart below you can see that bonds traded in a narrow range and ended the week almost where they started. As long as the bond stays above the 200 day moving average rates will stay where they are but if breaks below the 200 days moving average could have sell off and rates could move higher fast. If you have been waiting to refinance your Delaware mortgage loan, now is the time to do it before rates move higher. Keep Reading...