Delaware mortgage rate weekly update for the week of July 2, 2012, by John R. Thomas from Primary Residential Mortgage in Newark, Delaware. John is the 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 rate weekly update July 2, 2012, by John Thomas

Delaware mortgage rates are still hovering at all time historic lows. The Euro Summit was held last week and Friday’s release of the news from the event moved the stock market higher and the bond market sold off. What emerged from the meeting was a concession by Germany to allow Eurozone Stability Mechanism (ESM) to help recapitalize the banks as long as they meet budgetary rules. They were also no more austerity measures to be imposed. This may seem like a solution but it is not as the ESM only has 500 Billion Euros available and Spain and Italy alone have a combined 2.4 Trillion in government debt. This deal has also upset Greece who not wants fewer austerity measures because Spain and Italy have gotten the go-ahead for the bailout without all the restrictions placed on Greece. Keep Reading...