There will be a Free Budgeting Seminar on Wednesday, January 14, 2009, from 6:30 PM till 8:00 PM at the Primary Residential Mortgage’s Office in Newark, Delaware. The seminar will cover the basics of making a household budget, how to track daily, weekly, and yearly expenses, and how to use your budget as part of an overall financial plan.  Each participant will receive a free Excel Budget Calculator and a Budgeting Handbook.  You will also learn how to not only cut your expenses but increase your income. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Wednesday, December 10, 2008.

The stock market surged today on news of an auto bailout coming from capitol hill.  The mortgage-backed securities also surged today on expectations of the Feds buying mortgage-backed securities.  Rates have fallen to the lowest level in 5 years.

My advice is to carefully Float but consider locking in the gains we got today.  Rates are currently in the low 5s.

If you need advice or help to obtain a mortgage for a purchase or a refinance then call me at 302-368-7132 or send an e-mail to DelawareMortgages@yahoo.com Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Monday, December 8, 2008.

Mortgage-Backed securities sold off last week from the highs reached on Monday, December 1, 2008. The long term outlook is still for lower rates in January when the Feds begin buying mortgage-backed securities.

Stock futures are soaring this morning as there appears to be a deal reached for an automotive bailout. Mortgage-backed securities are still trading in the green in spite of this news.  In other News, Industry Giant Merril Lynch is being bought by Bank of America. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Thursday, November 20, 2008.

The stock market sold off yesterday about 400 pts and the DOW closed down below 8,000. The projection for the economy is bad through-out 2009. Car makers are on capital hill begging for a bailout. Money is moving into treasuries this morning taking some of the money that would be moving into mortgage-backed securities.

Mortgage Backed Securities are slightly up this morning and are holding above the 200 day moving average. The stock market is moving lower again after jobless claims come out worse than expected, here is more info on jobless claims. http://news.yahoo.com/s/ap/20081120/ap_on_bi_go_ec_fi/economy If we can get some of this money to move into bonds instead of treasuries we could see rates start to fall. Keep Reading...

This is my daily advice for floating or locking your Delaware Mortgage Rate for Wednesday, November 19, 2008.

Mortgage Backed Securities (MBS) has been trading in a tight range for the last week.  We have been holding above the 200 days moving average this week which is a good level of support but we also haven’t been able to move any higher, we keep bouncing down off a tough level of resistance.  When MBS breaks out of this tight trading range will probably see a big movement either up or down (hopefully up for so we get lower rates). Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Friday, November 14, 2008.

The mortgage bond sold off yesterday as the stock market rallied and we saw profit taking in the bond closed down some 34 bps. Mortgage lenders re-priced for the worse at the end of the day. Oil also jumped up to $59 a barrel. Today we are seeing Mortgage Bonds open higher than they closed yesterday as stock market points to lower open.

Retail sales report is worse than expected but consumer sentiment is better than expected. Stocks are trying to rally on the news as I write this and Mortgage Backed Securities are moving lower. If you didn’t lock yesterday than you are going to probably see worse rates today when lenders come out with pricing because the bond is selling off. Keep Reading...