Delaware mortgage rate weekly mortgage market update for the week of March 25, 2013 by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. John is the Newark, Delaware Mortgage 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 last week as the mortgage bond market continue the rally from the previous. You can see on the chart below that mortgage bonds have traded in a tight channel since the big sell off in January. We are recommending FLOATING your Delaware mortgage rate to start the week to see if mortgage bonds can move higher and test the resistance at the 200 day moving average. If bonds open on Monday and make a move lower then we will switch to a LOCKING stance.
In housing news, Housing Starts for February 2013 came in at 917,000 which is 28% higher than February 2012 which was at 718,000. Housing Starts is a measure of how many new homes builders have started building. Building Permits for 2013 also increased and reach their best level since 2008. Building permits is a measure of future construction. We also saw existing home sales for February 2013 come in at 4.98 million units which is 0.8% better than January 2013 and up 10.2% from February 2012.
Thursday brought us the release of weekly initial jobless claims which
I am recommending FLOATING your Delaware Mortgage Rate to see if mortgage bonds can continue to move higher and move rates lower. Call 302-703-0727 to schedule a free mortgage consultation to get pre-approved for a mortgage to purchase a home or to refinance your existing mortgage to lower your rate and sace thousands of dollars in interest. There are several special government refinance programs to help underwater Delaware home owners refinance. There is the FHA Streamline Refinance Program, the VA IRRRL Streamline Refinance Program, and there is the HARP 1.0 and HARP 2.0 refinance programs. Call us or e-mail us now to get more information or you can APPLY ONLINE.
The next Free Delaware First Time Home Buyer Seminar is Saturday April 20, 2013 in Newark, Delaware and Tuesday March 19, 2013 in Dover, Delaware. Register by calling 302-703-0727 or Register online at http://www.delawarehomebuyerseminar.com/
Then next Free Maryland First Time Home Buyer Seminar is Saturday March 23, 2013 in Towson, Maryland. Register by calling 410-412-3319 or Register online at http://www.MarylandHomeBuyerSeminars.com
John R. Thomas
Certified Mortgage Planner – NMLS 38783
Primary Residential Mortgage, Inc. – Newark Delaware Mortgage Company
248 E Chestnut Hill Rd
Newark, DE 19713
302-703-0727 DE Office
410-412-3319 MD Office
610-906-3109 PA Office
Branch Manager / Loan Officer - NMLS 38783