Delaware mortgage rates weekly update for the week of March 19, 2012, from John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John Thomas is the branch manager and the author of the book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to schedule a free mortgage planning consultation or APPLY ONLINE.

Delaware mortgage rate weekly update with John R. Thomas

Delaware mortgage rates have started the week higher than last week as the bond market sold off last week in response to 3 things. First, the Federal Reserve statements said the economy is improving and there was no mention of QE3. Former Fed Governor Doesn’t see a QE3. Second, the problems in Europe have a temporary solution, there was a bailout deal signed for Greece. Third, we are seeing inflation in the consumer price index start to kick in which is always bad for mortgage bonds. These 3 things caused a major sell-off in the bond market which has caused mortgage rates to rise almost 0.5% from the beginning of last week. The bond market has started a downward trend which means in the short term mortgage rates are going to continue to rise.

For more information on what rising rates mean for the economy and what the long term trend for rates could be read the article linked below:

What do rising rates say about markets?

I would recommend LOCKING in your Delaware mortgage interest rate and take advantage of these all-time low rates. If you would like to discuss a mortgage for the purchase or refinance of a home in Delaware, give me a call at 302-703-0727 or you can APPLY ONLINE.

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

248 E Chestnut Hill Rd, Newark, DE 19713