Tag John Thomas

Tag John Thomas

Delaware Mortgage Rates Weekly Mortgage Market Update December 10 2012

John Thomas December 11, 2012 Tags: , , , , , , ,

Delaware mortgage rate weekly mortgage market update for the week of December 10, 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 last week higher as mortgage bonds sold off to end the week. The reason for the sell-off in bonds is some good news released last week on the economy.  Friday the Labor Department released the November 2012 jobs report and stated employers added 146,000 new jobs in November which was well above the predicted 90,000 jobs. The unemployment rate also ticked down to 7.7% in November which is the lowest since December 2008. Keep Reading...

Delaware Conforming Loan Limits Remain the Same for 2013

John Thomas December 2, 2012 Tags: , , , , ,

The maximum loan limit for Freddie Mac and Fannie Mae loans in 2013 for loans made in Delaware will remain the same as it was in 2012. The Federal Housing Finance Agency (FHFA) announced on Thursday, November 29, 2012, that the baseline limit that will apply to most of the country will be $417,000 for one unit properties. Below is a chart showing the conforming loan limits for New Castle County, Delaware; Kent County, Delaware’ and Sussex County, Delaware:

Number of Units:  Max Delaware (Kent, New Castle, & Sussex Counties) Loan Limit 1 Unit $417,000 Keep Reading...

Delaware Mortgage Rates Weekly Mortgage Market Update November 26, 2013

John Thomas November 25, 2012 Tags: , , , , , ,

Delaware mortgage rate weekly update for the week of November 26, 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 drifted higher last week as the stock market rallied. Mortgage bonds have traded in a range for the past two weeks.  We are recommending LOCKING your Delaware mortgage rate if closing in the next 15-30 days but recommend floating longer term as rates could improve by bouncing off support. Short term risk is for rates to move higher as bonds are trading below the 50 days moving average and could fall lower.  The long term outlook for mortgage rates is for staying low as the economic factors are still negative. Keep Reading...

Delaware Mortgage Rates Weekly Update November 12, 2012

John Thomas November 10, 2012 Tags: , , , , , , ,

Delaware mortgage rate weekly update for the week of November 12, 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 were able to improve this week so our recommendation to float your Delaware mortgage rate lock till this week was good advice. We are recommending taking advantage of this dip lower in interest rates, so recommend LOCKING your Delaware mortgage rate.  The bond market experienced a run up at the expense of stocks after President Obama won a second term. The stock market dropped on Wednesday which allowed mortgage rates to improve as money moved into the bond market. Mortgage rates are touching all-time record lows again. Keep Reading...

Delaware Mortgage Rates Weekly Mortgage Market Update November 5, 2012

John Thomas November 5, 2012 Tags: , , , , , , ,

Delaware mortgage rate weekly mortgage market update for the week of October 29, 2012, by John R. Thomas with Primary Residential Mortgage in Newark, DE. John is the Newark 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 were able to improve from last week and Friday were able to rebound after good news from the Jobs Report. The trading pattern on Friday showed the mortgage bond bouncing off technical support and ending the day strong which supports a pattern of the bond moving higher. So we are recommending FLOATING your Delaware mortgage rate to see if rates can go lower as the bond rises. Friday saw the October 2012 Jobs Report showing 171,000 jobs created and revised the last two months upward by 84,000. The unemployment rate actually ticked up from 7.8% to 7.9% for October 2012 even though we had an upward revision of jobs. The slight increase in unemployment is because more people started looking for work again. Keep Reading...

Delaware Mortgage Rates Weekly Mortgage Market Update – October 29, 2012

John Thomas October 28, 2012 Tags: , , , , , , , ,

Delaware mortgage rate weekly mortgage market update for the week of October 29, 2012, by John R. Thomas with Primary Residential Mortgage in Newark, DE. John is the Newark 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 stabilized last week and stopped the upward trend. Friday mortgage rates were finally able to rebound and move slightly lower. The mortgage rates were able to rebound after weak earnings were reported by Apple and Amazon which caused the stock market to sell off and shifted money into the bond markets. The Federal Reserve QE3 program was also a boost to the bond market as it is continuing to purchase mortgage bonds. Keep Reading...

Delaware Mortgage Rates Weekly Mortgage Market Update October 22, 2012

John Thomas October 21, 2012 Tags: , , , , , , ,

Delaware mortgage rate weekly mortgage market update for the week of October 22, 2012, by John R. Thomas with Primary Residential Mortgage in Newark, DE. John is the Newark 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 were on an upward trend last week as we saw the release of positive economic news and hints that inflation was heating up.  We saw two very good reports on housing released last week. First, the Housing Starts for September surged 15% in September 2012. Housing starts are the number of new residential homes that have begun construction in that month. The Housing Starts for September 2012 were 872,00 which was much higher than expected at 768,000. This is very good news on the housing front as builders will not start building without feeling confident they will sell. Keep Reading...

Delaware Mortgage Rates Weekly Mortgage Market Update October 15, 2012

John Thomas October 14, 2012 Tags: , , , , , , ,

Delaware mortgage rate weekly mortgage market update for the week of October 15, 2012, by John R. Thomas with Primary Residential Mortgage in Newark, DE. John is the Newark 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 back at historic lows after a volatile week of trading. Mortgage rates had started the week higher but with the help of the Federal Reserve purchasing mortgage-backed securities, each day rates were able to recover and end the week at historic lows.  We recommending LOCKING your Delaware mortgage rate if closing in the next 30 days as rates could drift higher again. If closing in 60 days or more we are recommending floating your interest rate. Keep Reading...