Delaware Mortgage Rates Weekly Update for January 28, 2013

Delaware mortgage rate weekly update for the week of January 21, 2013, by John Thomas with Primary Residential Mortgage in Newark, Delaware.  John is the Newark, DE 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 Rates ended the week last week higher as mortgage bonds sold off to end the week and continued the downward trend line to mortgage bonds. Bonds were able to hammer out a solid line of support and did close above that line on Friday as you can see from the Bond Chart Below. The better than expected economic news and good news in the housing market has helped to push stocks higher at the expense of mortgage bonds. The Federal Reserve mortgage buying program has helped keep mortgage bonds from moving even lower which would move mortgage interest rates back into the 4s. Keep Reading...

Delaware mortgage rate weekly mortgage market update for the week of January 14, 2013, by John R. Thomas with Primary Residential Mortgage in Newark, DE. John is the Newark, Delaware 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 rates have been trending higher since December 6, 2012, when the mortgage bonds started selling off from all-time record highs. The bond chart shows the trend line going down from this date.  Mortgage bonds on Friday rallied to try and stop this downward trend and closed higher and above the line of support. This is encouraging news so we are recommending FLOATING your Delaware mortgage rate to see if rates can reverse course and move lower to start the week. Keep Reading...

Delaware mortgage rates weekly mortgage market update for the week of January 7, 2013, from John R. Thomas with Primary Residential Mortgage in Newark, DE. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan. John Thomas is the Newark, Delaware Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. He provides a weekly mortgage rate market update to keep you current with what is happening with mortgage rates and the economy as a whole.

Delaware mortgage rates jumped higher to end the week last week as the mortgage bond market fell off a cliff on Thursday, January 3, 2013, when the Federal Reserve Meeting Minutes were released and showed that the Federal Reserve wants to end the mortgage bond buying program by mid 2013 instead of continuing till 2014 as was implied from earlier meetings.  This news weighed on both the stock market and the bond market. The bond dropped even lower on Friday to open but was able to claw its way back to where it ended the day on Thursday. This was bullish move so we recommend FLOATING your Delaware Mortgage Rate to start to the week to see if mortgage bonds can continue the bullish run and try to recover what we lost from The Federal Reserve Meeting Minutes. Keep Reading...

Delaware mortgage rates weekly mortgage market update for the week of December 24, 2012, from John R. Thomas with Primary Residential Mortgage in Newark, DE. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan. John Thomas is the Newark, Delaware Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. He provides a weekly mortgage rate market update to keep you current with what is happening with mortgage rates and the economy as a whole.

Delaware mortgage rates were able to move lower after a two-week run-up in mortgage rates. The mortgage bonds were able to bounce off support as “The Fiscal Cliff” talks in Washington have stalled and no clear sign that a deal will be reached before December 31, 2012. If Congress fails to act and pass a bill to deal with the Fiscal Cliff then tax rates will increase for everybody for 2013. The Healthcare Law also imposes additional taxes in 2013 and mandatory budget cuts go into effect from a deal reach in 2011 to deal with raising the debt ceiling. The Congressional Budget Office estimates this will remove about $600 billion from the economy which will put the U.S. back into a recession. Keep Reading...