Compare mortgage rates and closing costs for leading lenders in Delaware. Review free, personalized mortgage rates for Delaware based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.
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October 23, 2019
The current average rate for a 30 year fixed rate mortgage in Delaware is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
The median home value for Delaware is $264,100
The median household income for Delaware is $65,842
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Delaware is $48,999
The home price you can afford to buy based on household income in Delaware is 134% of the median home value which means housing prices are expensive. Delaware ranks 34 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Delaware is expensive
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
FREEandCLEAR Housing Affordability Index