Maryland Mortgage Rates Weekly Update for April 28, 2014

Maryland Mortgage Rates Weekly Market Update for the Week of April 28, 2014 from John R. Thomas with Primary Residential Mortgage in Towson, Maryland.  John is the author of the book, Your Guide to Purchasing Your First Home in Maryland.  Call 410-412-3319 to get a free mortgage planning consultation or APPLY ONLINE for Maryland mortgage loan.

Maryland Mortgage Rates dropped lower last week as the stock market sold off and concerns mounted overseas in the Ukraine.  Looking at the mortgage bond chart you can see that bonds were able to bounce off a floor of support after the previous week’s big sell off seen by the red candle.  Last week is a series of green candles moving bond prices higher and Maryland Mortgage Rates lower.  We are recommending cautiously FLOATING your Maryland Mortgage Rate to start the week.

mortgage bond chart 04-25-2014

New Homes Sales for March 2014 were released last week which showed a 14.5% drop in sales at 384,000 New Home Sales.  This showed a weakness in the New Construction Market but the median Home Price of New Home Sales jumped a whopping 17.4% from last year to $290,000.

new-home-sales march 2014

The Next Free Maryland First Time Home Buyer Seminar is Saturday May 24, 2014 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. – Baltimore Maryland Mortgage Company
1220A East Joppa Rd Suite 118
Towson, MD 21286
410-412-3319 MD Office
www.PrimaryResidentialMortgage.info

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