Delaware Mortgage Rates weekly mortgage rate update for the Week of January 13, 2014, by John R. Thomas with Primary Residential Mortgage, Inc. in Newark, Delaware. John Thomas is the Newark, Delaware Branch Manager and the author of the best selling book, Your Guide to Buying Your First Home in Delaware. Call 302-703-0727 to get a mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan

Delaware Mortgage Rates dropped lower on Friday after a very unexpected and disappointing jobs report was released by the U.S. Labor Department. If you look at the mortgage bond chart below you can see the big green candle on Friday where bond market rallied on the bad economic news coming out of the December 2013 Jobs Report. Mortgage bonds had been trading lower all week and moving mortgage interest rates higher in anticipation of another good jobs report. We are recommending FLOATING your Delaware Mortgage Rate to start the week to see if mortgage bonds can ride the bad news from the job report and move home loan rates lower. But we may have to switch to a locking stance as the bond was capped from moving higher by resistance at 103.86 and also the intersection of the 50-day moving average and the 100 days moving average. If bonds begin to sell off then we would suggest locking in these unexpected gains as the long term trend for mortgage rates is for them to continue to move higher throughout the year. Keep Reading...