Tag primary residential mortgage

Tag primary residential mortgage

Delaware Mortgage Rates Weekly Update for July 23 2012

John Thomas July 23, 2012 Tags: , , , , , , , ,

Delaware mortgage rate weekly update for the week of July 23, 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 rates once again set another all-time record low on Friday as we had a slew of bad economic reports released last week. Retail Sales fell in June 2012 more than expected. The Commerce Department released that Retail Sales in June fell 0.5 percent from May’s Retail Sales.  This is the third straight month Retail Sales have fallen, this hasn’t happened since 2008. Keep Reading...

Delaware Mortgage Rates Weekly Update for July 16 2012

John Thomas July 14, 2012 Tags: , , , , , , , ,

Delaware mortgage rate weekly update for the week of July 16, 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 by John R. Thomas

Delaware mortgage rates hit an all-time record low last week but then drifter higher as traders took profits and sold off mortgage bonds at the end of the week. I am still recommending LOCKING in your mortgage rate as rates still sit near all-time record lows. Last week we saw more news that supported that the US economy is slowing. Consumer Sentiment in July 2012 came in the lowest it has been in 2 years. Keep Reading...

Delaware Mortgage Rates Weekly Update July 9, 2012

John Thomas July 9, 2012 Tags: , , , , , , , ,

Delaware mortgage rate weekly update for the week of July 9, 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 rates set another all-time record low on Friday, July 6, 2012, after a very disappointing Jobs Report was released for June 2012.  The jobs report is released by the Bureau of Labor Statistics. The June Jobs report released that only 80,000 jobs were created in June which was well short of the anticipated 100,000 expected. There was also a revision of April and May job reports resulting in another 1,000 fewer jobs created than originally reported. We need about 150,000 new jobs each month just to keep up with population growth. Overall, employment growth during the second quarter of 2012 averaged about 75,000 jobs per month compared with more than 200,000 during the first quarter. Keep Reading...

Delaware Mortgage Rates Weekly Update for July 2 2012

John Thomas July 2, 2012 Tags: , , , , , , ,

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...

Delaware mortgage rates weekly update for June 18 2012

John Thomas June 18, 2012 Tags: , , , ,

Delaware mortgage rate weekly update for the week of June 18, 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 by John R. Thomas

Delaware mortgage rates are still at all-time historic lows following last weeks very tame reading on inflation. We saw the Consumer Price Index (CPI) come in 0.3% lower for May 2012 and the Producer Price Index (PPI) also came in below expectations for May 2012. This shows both consumer inflation and wholesale inflation are both tame which was great news for mortgage bonds. The bad economic news coming out of Europe from Greece, Spain, Portugal, and Ireland have also helped mortgage rates reach all-time record lows. The Greek people held elections on Sunday which supported the pro-austerity party. Keep Reading...

Delaware Mortgage Rates Weekly Update – June 11 2012

John Thomas June 11, 2012 Tags: , , , , , ,

Delaware mortgage rate weekly update for the week of June 11, 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 by John Thomas

Delaware mortgage rates have remained at all-time record lows as mortgage bonds have been trading on an upward trend line. Higher mortgage bond prices mean lower mortgage interest rates. Long term trend is for lower rates but short term we could some volatility and see rates move higher because of the supply of mortgage bonds hitting the market as well as treasury auction of 66 Billion in notes this week. Keep Reading...

Delaware Mortgage Rate Weekly Update for June 4 2012

John Thomas June 4, 2012 Tags: , , , , , , , ,

Delaware mortgage rate weekly update for the week of June 4, 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 by John R. Thomas

Delaware mortgage rates hit another all-time record low on Friday after a very disappointing Jobs Report was released on Friday. All around bad news for the economy and the recovery. Expectations for jobs created in May 2012 was about 155,000 but the Labor Department on Friday released that only 69,000 jobs were created for May 2012. This was half of what was expected and they also revised the numbers for the last two months for the worse and said 49,000 fewer jobs were created versus what was reported.  Finally, the unemployment rate actually ticked up to 8.2%. Keep Reading...

Delaware Fannie Mae HomePath Program

John Thomas June 3, 2012 Tags: , , , ,

Delaware Fannie Mae HomePath Program Guidelines

Fannie Mae has a great loan program that’s available to homebuyers around in Delaware. When foreclosures occur on Fannie Mae-owned properties, Fannie Mae hopes to sell those properties quickly so the community isn’t impacted too greatly. These properties are known as HomePath properties, and there are some great incentives in purchasing them throughout the state of Delaware. Highlights include:

  • 97% conventional financing
  • 3% down payment can be gifted/grant funds
  • No appraisal (sale price = value)
  • No PMI
  • 6% seller concession allowable over 90%
  • Investment property allows for higher LTVs
  • 90% – 1 unit
  • 80% – 2 unit
  • 75% – 3-4 unit OR if financing properties 5-10
  • Renovation program allows for the same flexibility as a standard purchase program

The bottom line is that HomePath properties offer flexibility and opportunities to save some money. So, it may be worth your time to take a look at them. Keep Reading...