Delaware
Mortgage Rates;
Delaware’s housing market is softening and we are moving from a sellers market to a buyers market. Instead of seeing a big decline in prices, we will see a slow on the double digit price increases of the last few years. So sellers will still make a profit but they will have to be realistic about their asking prices. The days of multiple bids are over. Buyers are becoming a lot more canny and can expect a lot more for their money. What we are seeing now is a stabilization of the market. Unemployment is still low so there will be demand for homes.
Sellers have a choice of staying put or accepting that they will not make as much money on their homes as they would have done a couple of years ago.
For buyers, there has never been a better time to enter the market. There is growth in the market but at a more sustainable level than a few years ago.
Below are examples of the rates being offered.
For loans up to $417,000
30 Yr Fixed : rates from 5.5% to 6.125%
15 Yr Fixed : rates from 5% to 5.875%
1 Yr ARM : rates from 5.125% to 6.75%
3/1 ARM : rates from 5.375% to 6.25%
5/1 ARM : rates from 5.5% to 6.25%
For loans above $417,000
30 Yr Fixed Jumbo : rates from 5.75% to 6.625%
15 Yr Fixed Jumbo : rates from 5.375% to 6.5%
1 Yr ARM Jumbo : rates from 5.125% to 5.5%
3/1 ARM Jumbo : rates from 5.375% to 6.625%
5/1 ARM Jumbo : rates from 5.375% to 6.375%
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Major Delaware
Cities;
Dover
Ocean View
Wilmington
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