Delaware Mortgage Rates Weekly Update for Week of April 2, 2012 by John R. Thomas with Primary Residential Mortgage in Newark, Delaware. Call 302-703-0727 to schedule a free mortgage consultation or you can APPLY ONLINE.
Delaware Mortgage Rate Weekly Update with John R. Thomas
Delaware Mortgage Rates finally reversed course and moved lower after moving higher for the last 3 weeks. The mortgage bond bounced off the lows and has recovered but will have trouble breaking through the falling trend line that the bond page shows. The mortgage bond was able to trade higher last week on weak housing data and the intial jobless claims bounced higher. Housing News that wasn’t so good was Home Prices have dropped in 16 Metro areas according to Case Shiller Index. This has caused the Federal Reserve to consider instituting a third round of quantitative easing called QE3. QE3 would be another round of bond buying by the Feds which could help to keep home loan rates near historic lows.
My advice is to FLOAT your Delaware mortgage rate to start off the week of April 2, 2012 to see if mortgage bonds can keep their momentum and move higher helping home loan rates to continue lower. If you would like to schedule a free mortgage planning session call 302-703-0727 or APPLY ONLINE.
John R. Thomas
Certified Mortgage Planner – NMLS 38783
Primary Residential Mortgage
248 E Chestnut Hill Rd
Newark, DE 19713