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Purpose: State: Loan Amount: Loan Type: Points:
$ GO
Institution Payments Rates Apr Points Fees Last Update   Phone – A Direct Lender $1140.13 3.625% 3.754% 0.789% $1950.00 10/07/2011 – A Direct Lender $1122.61 3.500% 3.703% 1.697% $1950.00 10/07/2011 – A Direct Lender $1157.79 3.750% 3.814% 0.000% $1950.00 10/07/2011
Data provided by Informa Research Services click here for details

Current Mortgage Rates

Delaware’s housing market may be in a slump, with prices and sales both declining, but that means that it’s a buyer’s market and house hunters have more houses to choose from than ever before. Interest rates are about as low as they are going to go. Home mortgage loan rates nationwide are averaging about 4.250% at the moment for a conventional 30-year fixed rate loan. Delaware mortgage rates are slightly higher, at about 4.50% for the same loan, but they are not likely to go any lower.

Home prices have come down from the highs set just a few years ago and have reached bottom in most of the country. Many areas have even started seeing increases in the average selling price. Nationally, home prices rose 0.7% in April, according to the monthly survey released by S&P.

The economy is also picking up. The nation’s gross domestic product continues to climb and more people are finding work. New claims for unemployment continue to remain steady and are expected to drop.

As the economy strengthens home sales will go up and so will prices and mortgage rates. Right now Delaware’s homes are a bargain. The average selling price for a home in the First State is down anywhere from 6.25% to more than 14% of last year’s average selling price, depending on the county.

Would-be buyers can now snap up a home in Kent for an average of $179,250. A year ago the same house would have cost $209,929. The current prices are even more of a bargain when compared to those from a few years back.

Prospective buyers also have more houses to choose from, as sales volume has dropped tremendously. The number of pending home sales nationwide dropped by 11.6% in April. More foreclosures have also come on the market, which has helped to increase the available supply.

The buyer’s market won’t last. Delaware residents who are on the fence about buying a home now should jump in and start looking for their dream home while prices are low, interest rates are lower and there is an excess of homes available. Home mortgage loan rates have already started creeping slowly upwards from the lows reached earlier this year. Delaware mortgage rates are already slightly higher than the national average, and that trend is likely to continue, so homebuyers should lock in that low interest rate while they can.

4.25% 30 Year Fixed Rate
Loan Amount
Loan Type