Mortgage Rates Updatefor March 3, 2019 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware 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
Mortgage Rates moved higher last week as the stock market continued to rally higher. If you look at the mortgage bond chart below, you can see mortgage bonds sold off and broke beneath three floors of support: the 25 day moving average, the 50 day moving average, and the Fibonacci level at 101.85. This is very bad news for mortgage bonds as they can’t seem to find a floor of support so we are recommending LOCKING your mortgage rate to start the week.Keep Reading...
Mortgage Rates Weekly Update for February 24, 2019
Mortgage Rates Updatefor February 24, 2019 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware 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
Mortgage Rates moved slightly Lower to end the week as mortgage bonds were able to rally of floor of support. If you look at the mortgage bond chart below you can see bonds were able to rally off the floor of support to end the week Friday. Mortgage bonds have finished in the middle of a sideways trading channel with some room to move higher so we are recommending FLOATING your mortgage rate to start the week.Keep Reading...
Mortgage Rates Updatefor January 21, 2019 by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. Get advice on Locking or Floating your Mortgage Rate to start the week as well as the latest housing and finance news updates. John Thomas is the Branch Manager, a Delaware 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
Mortgage Rates moved higher again last week as mortgage bonds continued to sell off and follow the down trend. If you look at the mortgage bond chart below you can see mortgage bonds have been selling off since hitting high on January 3rd. Mortgage bonds broke beneath support on Thursday and followed through on Friday. Bonds ended the day on Friday falling down to the next floor of support at the 25 day moving average at 101.6875. If stocks continue to do well, then bonds will fall through the 25 day moving average and continue to fall to the next floor of support at 101.3402. With the short term trend for mortgage bonds to continue to move lower, we are recommending LOCKING your mortgage rate to start the week. Borrowers should understand that the best loan pricing of the year was back on Thursday, January 3rd. The next day the Bond market received two punches in the mouth by way of the blockbuster Jobs Report and Fed Chair Powell’s overly “dovish” and stock-market friendly speech and it has shown no signs of revisiting those January 3rd levels at this time.
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Day 31 of the Government Shut down falls on Monday Martin Luther King Day. So What is a Government shut down? In the normal US budget process each year, Congress has to appropriate funds by September 30th which they didn’t this year. When it doesn’t happen, a continuing funding resolution is enacted. When a funding resolution can’t be reached by Congress, it forces the government to shut down and non-essential discretionary federal programs close. Essential services continue during a shutdown as do mandatory spending programs, but essential workers do not get paid… although they will likely get those funds after shutdown, it doesn’t help them make mortgage and rent payments now. The current government shutdown began on December 21st at midnight and on January 12th it became the longest shutdown in US history.
The US Congress must be deemed “essential” as they still receive their pay during the government shut down as does the President.
Happy Martin Luther King, Jr Day from Primary Residential MortgageKeep Reading...
There will be a Newark Delaware First Time Home Buyer Seminar on Saturday February 16, 2019 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 home buyer seminar will cover all of the basics of buying a home in Delaware. The Newark Delaware First Time Home Buyer seminar will cover FHA loans, VA loans, USDA Rural Housing Loans, First Time Home Buyer Loan Programs and the FHA 203k Rehab loans. We will also cover the Delaware Mortgage Credit Certificate Program which is also know as the Delaware first time home buyer tax credit which give you up to $2,000 a year as a federal tax credit for every year you have the mortgage loan.
The Seminar is sponsored by The Neighborhood House so each participant will receive Delaware home buyer counseling credit toward the required HUD approved home buyer counseling required for Delaware First Time Home Buyer Programs such as Delaware State Housing Authority, New Castle County, City of Newark, City of Dover, and City of Wilmington.
Each participate will receive a Credit Scoring Handbook, Delaware Home Buying Handbook, A Household Budget Calculator Worksheet 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 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 options for borrowing 100% financing to purchase a home in Delaware at the Delaware First Time Home Buyer Seminar.
What will you learn at the Newark Delaware First Time Home Buyer Seminar?
You will also learn the following at the seminar:
Valuable Tips on How to Improve Your Credit Score
How to Establish Credit if You have None
How to Budget to Afford a New Home
How to Calculate How Much Your Qualify for
How to Get Pre-Approved for a Delaware Mortgage Loan
Learn what Mortgage Programs are available for Delaware First Time Home Buyers
Learn what programs are available to help with down payment and closing costs such as a Delaware Down Payment Grant
Learn what your Delaware Mortgage Lender should be doing for you
Learn what your Delaware Real Estate Attorney should be doing for you
Learn what your Delaware Real Estate Agent should be doing for you
Learn what your Delaware Home Inspector should be doing for you
How to find the right Realtor to help you find your new home
How to shop for your new home
How to make the offer and negotiate the best price and terms
and much more!!!
Where will the Newark Delaware First Time Home Buyer Seminar Be Held?Keep Reading...
