There will be a Free Budgeting Seminar on Wednesday, March 11, 2009, from 6:30 PM till 7:30 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 loan for Friday, February 20, 2009.

The mortgage-backed securities (MBS) have opened higher this morning on weak stock reports. The CPI (Consumer Price Index) came out this morning as expected which is good news because this is a measure of inflation and a sign of increasing inflation would be bad for mortgage bonds.

If you didn’t lock your rate on Wednesday then you should continue floating unless there is a reversal and stocks start to rally, if that happens we could see the MBS drop and rates re-price for the worse. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Thursday, February 19, 2009.

The PPI index rose unexpectedly when reported today.  The PPI is a measure of inflation. Higher inflation is bad news for fixed income investments like mortgage bonds. Mortgage bonds sold off when news was released, Bonds traded in a wide range as investors tried to digest the PPI news. The Feds released that they bought about 20 billion in Mortgage-backed securities from Feb 12 to Feb 18.  Oil prices have jumped today on news of higher consumption and lower inventories which was very surprising to the market. Keep Reading...

U.S. home values continued to slide for the eighth consecutive quarter, declining 11.6 percent from a year ago, and falling 17.5 percent since the market peak in 2006. Additionally, one in five homes sold in the past 12 months was a foreclosure, and one in six of all homeowners have negative equity. Those are the national statistics for the fourth quarter of 2008.

Our Local Market looks to be doing much better than the national average. Newark area was actually able to make a slight gain in value from a year ago. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Thursday, February 12, 2009.

The mortgage bond is at a tough point of resistance after several days of gains. Rates are again at a pretty good low point. Mortgage bonds appear to be getting ready to bounce down off the resistance.  This means reprices for the worse could happen later today.

The market is very crazy right now. The economic stimulus bill has finally been worked out by Congress and should be voted on first by the house tomorrow and later by the Senate. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Tuesday, February 10, 2009.

Today we saw the 2nd day that mortgage bonds traded higher.  The 4.5% mortgage bond ended the day higher by 47 basis points.  We saw lenders reprice for the better today.  We are still off the lowest rates which were at the beginning of January.

I am recommending floating but be ready to lock in your rate if the market turns tomorrow.

If you need help with a Delaware Mortgage Rate please feel free to call me at 302-368-7132 or send an e-mail to DelawareMortgages@yahoo.com’ Keep Reading...