Delaware Mortgage Rates Rise as the Stock Market Surges – January 2007
January 12th, 2007 by John Thomas
Delaware Mortgage Rates for Janaury 2007
Delaware Mortgage Rates rose all week as lower oil prices and good economic news allowed the stock market to rally. The S&P hit an all time high. The outlook for the stock market going into next week is for a bullish run up. This means Mortgage Rates in Delaware and across the nation are likely to continue there upward movement.
Mortgage Rates typically move higher when the stock market rallies because this pulls money out of the bond market into the stock market forcing interest rates on the bonds to increase. Your mortgage is tied to a mortgage backed security which is bought and sold on the bond market. So if we have a continued rally next week in the stock market we will see even more money moving out of bonds forcing Delaware Mortgage Rates higher.
If you are a Delaware First Time Home Buyer then you should consider attending one of our monthly Free First Time Home Buyer Seminars.
If you would like to apply for a Delaware Home Loan, you can APPLY ONLINE HERE, you can call John Thomas at 302-703-0727 or send an e-mail to jthomas@primeres.com
John R. Thomas – Certified Mortgage Planner – Primary Residential Mortgage, Inc.
42 Reads Way, New Castle, DE 19720
302-703-0727 DE Office / 610-906-3109 PA Office / 410-412-3319 MD Office
I am a Delaware native who has been actively involved in the Mortgage and Finanace industries for over 10 years. Call me at 302-703-0727