Delaware mortgage rates weekly mortgage market update for the week of December 31, 2012 from John R. Thomas with Primary Residential Mortgage in Newark, DE. Call 302-703-0727 to get a free mortgage planning consultation or APPLY ONLINE for Delaware mortgage loan. John Thomas is the Newark, Delaware Branch Manager and the author of the book, Your Guide to Buying Your First Home in Delaware. He provides a weekly mortgage rate market update to keep you current with what is happening with mortgage rates and the economy as a whole.
Delaware mortgage rates improved this week on the news that no deal has been reached to avert the “Fiscal Cliff”. The US Senate is meeting to see if can hash out a last minute deal. If they do we could see mortgage rates suffer in the short term and move higher.
Pending Home Sales for November 2012 came in higher by 1.7% which is the 3rd straight month of gains and higher than estimates. Pending Home Sales are contracts that have been signed but haven’t closed yet but should in the next 45-60 days. Pending Home Sales are a good indicator of the future housing market as show what is coming in the next month or so for home sales. This is more good news to show the housing market may indeed be on a real recovery.
New Home Sales for November 2012 increased by 4% to 377,000 which is the highest reading since April 2010. The increase in New Home Sales shows that home builders are doing much better and have a bright outlook for the housing market. Home prices in the US are set to make their first yearly gain since 2006.
We saw the unemployment rate for November 2012 decreased in 45 stattes plus District of Columbia. Since Housing is tied closely to jobs, the lower the unemployment rate the faster the housing market will recovery.
I am recommending LOCKING your Delaware Mortgage Rate if you are closing in the next 30 days to take advantage the rebound lower in mortgage rates. 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 January 19, 2012 in Newark, Delaware and Tuesday January 15, 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 January 12, 2012 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.
248 E Chestnut Hill Rd
Newark, DE 19713
302-703-0727 DE Office
410-412-3319 MD Office
610-906-3109 PA Office