DE Mortgage Rates – Delaware Rates Hit All Time Low Today
By: John R. Thomas
Delaware Mortgage Rates moved to all time lows today after Federal Reserve meeting yesterday. Mortgages rates for 30 year fixed rate mortgages on conventional loans and FHA loans have moved below 5.0% with no points. The Federal Reserve stated they would main low interest rate environment by not raising the federal funds rate anytime soon. This combined with the Producer Price Index falling by -0.6% helped bump rates lower today. The PPI is a measure of inflation so a lower reading is mortgage rate friendly.
Now is a great time to refinance your Delaware home loan. You have many options to help you refinance into a lower rate. You can do a rate and term refinance with an FHA loan up to 97.75% Loan to Value even with bad credit. You can do a HARP loan for up to 125% LTV if your loan is currently with Fannie Mae or Freddie Mac. If you need to do some debt consolidation you can do a cash-out refinance for up to 85% loan to value.
Keep in mind that the Federal Program to buy Mortgage Backed Securities will be ending March 31, 2010. This program has been credited with keeping the mortgage rates so low. Economists are predicting rates could jump up anywhere from 0.5% to 1.0% when the program stops. So now may be the best time ever to get a mortgage.
If you would like a free consultation on your Delaware home loan or get pre-approved to go shopping for a home loan please feel free to call your local mortgage expert John Thomas at 302-703-0727 or send an e-mail to DelawareMortgages@yahoo.com.
If you are a Delaware First Time Home Buyer then you can register for our Free Delaware First Time Home Buyer Seminar this Saturday March 20, 2010 at the Christiana Hilton Hotel in Newark, DE from 10 AM till Noon or from 1:00 PM till 3:00 PM, you can call 302-703-0727 to register or send an e-mail to DelawareMortgages@yahoo.com. To see the monthly schedule of seminars visit www.DelawareMortgageLoans.net/seminars