This is my daily advice on whether to lock or float your Delaware Mortgage Rate for Thursday, August 14, 2008.

The CPI report came out today worse than expected at 0.1% higher. This caused an initial reaction for mortgage-backed securities to trade lower but they again tested a very strong resistance at 99.15 and have since bounced up some.  And are now higher than we ended the day yesterday. The rest of the day will probably take its que from how stocks are trading.

My recommendation is to continue to float as we are more than likely bouncing off our low for the year for mortgage-backed securities. If you look at the graph below you can see where I recommended to LOCK in your mortgage rate yesterday at the high, if you missed the opportunity then you can see where we are bouncing off the lows and can float as we rise back up. Keep Reading...

There will be a Free Budgeting Seminar on Wednesday, September 10, 2008, 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.

To register for the Seminar, please call 302-368-7132 Ext. 12 and ask for John Thomas or send an e-mail to DelawareMortgages@yahoo.com Keep Reading...

This is an update that mortgage-backed securities are trading down to their lows of the day and lenders may be considering a reprice for the worse.

You should consider LOCKING your Delaware Mortgage Rate if you are closing in the next week or so.

If you would like to apply for a Mortgage Loan, you can APPLY ONLINE HERE, you can call John Thomas at 302-703-0727.

John R. Thomas – NMLS 38783

Certified Mortgage Planner – Primary Residential Mortgage, Inc.

302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for August 13, 2008.

The stock market is trading lower today after a disappointing Retail Sales Report was released this morning.  There isn’t much economic news today to swing the market either way.  The bonds are trading better than yesterday and technically are trading in an upward channel but will probably trade sides the rest of the day.

My recommendation is to FLOAT your Delaware Mortgage Rate but stay in contact with your mortgage planner because rates could break out of trading channel either up or down. Keep Reading...

Newark Delaware Police Deparment recognized the National Night Out for the first time this year. The event was held nationwide on Tuesday, August 5, 2008. Residents of several Newark Neighborhoods spent Tuesday evening outside as part of a nationwide stand against crime. The theme of National Night Out is to give people of the neighborhood a chance to know their police officers and to show criminals that residents are united against crime.

Next year the City of Newark hopes to make the event bigger and bring the whole community togehter by maybe having a barbeque. Keep Reading...

This is my daily advice on Floating or Locking your Delaware Mortgage Rate for Friday, August 8, 2008.

We had some nice gains yesterday in the bond market which made mortgage rates improve significantly yesterday. The bond started off good this morning then gave back some ground as it bounced off the 25-day moving average.  It regained momentum and is adding to the gains from yesterday.  This means Delaware Mortgage rates are even better today than yesterday.  Hopefully, you took my advice yesterday and floated into today. Keep Reading...

This is my daily advice on Locking or Floating your Delaware Mortgage Rate for Thursday, August 7, 2008.

The mortgage rates have risen dramatically this week because of the Fed Meeting on Tuesday and the report of a huge loss at Freddie Mac. If you haven’t already locked your Delaware mortgage rate, then your best bet may be to float your Delaware Mortgage Loan because it looks like we could rebound some by the end of the day Friday.

There is a huge spread between mortgage-backed securities and treasuries right now so there is a potential for a rebound to cover the spread. Keep Reading...