Tag John Thomas

Tag John Thomas

Delaware Mortgage Rates Weekly Mortgage Market Update February 4, 2013

John Thomas February 3, 2013 Tags: , , , , , ,
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Delaware mortgage rate weekly update for the week of February 4, 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 tried to move lower last week but ended the week where they started as the stock market continued to push higher. Mortgage bonds traded in a tight range last week and couldn’t break above the 200 days moving average. We can start the week FLOATING to see if mortgage bonds can try again to break through resistance and move home loan rates lower. If bonds break below the floor of support then we need to switch to a LOCKING stance quickly. The long term outlook for rates is to move higher as the downward trend in mortgage bonds continues. Keep Reading...

Delaware Mortgage Rates Weekly Update for January 28, 2013

John Thomas January 28, 2013 Tags: , , , , , , , ,
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Delaware Mortgage Rates Weekly Update for January 28, 2013

Delaware mortgage rate weekly update for the week of January 28, 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 tried to move lower last week but rebounded higher when initial jobless claims were reported on Thursday, January 24, 2013, at 330,000 which was 5,000 less than the week before. This continues the trend of lower claims and is the lowest in 5 years. The unemployment rate surprisingly stayed the same at 7.8%.  This sent mortgage bonds lower and resumed the downward trend for bonds.   Mortgage interest rates moved higher in response and ended the week higher than they have been in 4 months.  The bond broke through the support that held last week but we may see rates bounce off the 200-day moving average so I am recommending FLOATING your Delaware mortgage rate to see if bonds can recover some but be mindful that if support is broken at 200-day moving average, rates will jump higher and fast. Keep Reading...

Delaware Mortgage Rates Weekly Mortgage Market Update January 21, 2013

John Thomas January 20, 2013 Tags: , , , , , , ,
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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 Rates Weekly Mortgage Market Update January 14, 2013

John Thomas January 14, 2013 Tags: , , , , , , ,
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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 January 7, 2013

John Thomas January 6, 2013 Tags: , , , , , , ,
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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 Update December 31, 2013

John Thomas December 30, 2012 Tags: , , , , , , ,
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Delaware mortgage rates weekly mortgage market update for the week of December 31, 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 improved this week on the news that no deal has been reached to avert the “Fiscal Cliff”. The US Senate is meeting to see if can hash out a last minute deal. If they do we could see mortgage rates suffer in the short term and move higher. Keep Reading...

Delaware Mortgage Rates Weekly Mortgage Market Update December 24 2012

John Thomas December 26, 2012 Tags: , , , , , , ,
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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...

Delaware Mortgage Rates Weekly Update December 17 2012

John Thomas December 17, 2012 Tags: , , , , , , ,
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Delaware mortgage rate weekly update for the week of December 17, 2012, 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 ended the week higher because of a bounce back in the stock market and supply selling pressure. The rates are still near record lows and could bounce back to record lows in the weeks to come as there is still much uncertainty in the market surrounding the pending “Fiscal Cliff” and the Debt Crisis in Europe. There is still no deal that has been reached on the “Fiscal Cliff” and time is running out for Congress to reach a comprise. If a deal is reached then that could move home loan rates higher as the stock market would rally on the news. So we need to watch carefully and if it looks like the deal may be struck then I would recommend LOCKING your Delaware mortgage rate but we can FLOAT for now. Congress has delayed its Holiday break to stay and work on a deal for the Fiscal Cliff. Keep Reading...