Feb. 11 (FreeRateUpdate.com) DELAWARE – Delaware Mortgage Rates have risen higher this week after treasury auctions have added more supply to the fixed income investment market. Rates have been at historic lows but experts are looking for rates to continue to rise the close we get to March 31st.
March 31st is when the Federal Reserve is ending its mortgage buying program which has kept rates artificially low for the past year. What this all means for Delaware home owners considering refinancing their current mortgage, there is no time like the present. The longer you wait the higher the rates will be.
If you are considering buying a home in Delaware for the first time or if you already own a home and wish to move up to a different home you can qualify for a tax credit. There is still time. You must be under contract to buy a home by April 30th 2010 and must settle before June 30th. The first time home buyer tax credit is for up to $8,000 and the move up buyer can receive up to $6,500.