MoneyGeek collected the latest average refinance rates in Delaware to help you choose the best loan option for your particular needs. The table below includes these figures.
Today’s Refinance Rates in Delaware
On average, Delaware residents with mortgages owe $185,527, amounting to a $1,121 monthly payment. It may seem risky, mortgage refinancing can get you lower interest rates and make your monthly payments more affordable.
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Matt Whittle
Freelance Editor
Matt Whittle is a freelance writer and editor who holds a BA in English from Penn State University. He has experience as a writer and editor in personal budgeting, higher education, and the wine industry.
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Matt Whittle
Freelance Editor
Matt Whittle is a freelance writer and editor who holds a BA in English from Penn State University. He has experience as a writer and editor in personal budgeting, higher education, and the wine industry.
Updated: January 18, 2024
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Current Refinance Rates in Delaware
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Mortgage Refinance Rates From Top Lenders
What Is a Good Refinance Rate in Delaware?
MoneyGeek discovered that Delaware’s refinance rates for a 15-year fixed-rate mortgage (4.38%) and 30-year fixed-rate mortgage (5.13%) are both below the national average of 4.45% and 5.30%, respectively. Meanwhile, the refinance rate for a 5/1 adjustable-rate mortgage in the state equals the current national average of 4.19%.
Qualifying for a good interest rate is essential in mortgage refinancing. However, your rate will depend on your loan term, loan amount, credit score, income and debts. Compare quotes from multiple lenders to get the best deal for your unique circumstances.
Additionally, keep a lookout for fluctuations in interest rates — they change nearly every day, so the quote you get today may differ from the rate you’ll receive in another week.
Estimate Your New Monthly Mortgage Payment
MoneyGeek’s mortgage calculator below can help you estimate how much you’ll pay monthly with a refinanced rate. Enter your mortgage information and use Delaware’s refinance rates in this guide to get started. Remember, however, that your actual rate will rely on personal factors such as credit score and debt-to-income ratio.
By Mandy Sleight, Licensed Insurance Agent
Frequently Asked Questions About Refinance Rates in Delaware
MoneyGeek’s answers to some frequently asked questions provide additional information on mortgage refinance rates in Delaware.
A "good" refinance rate in Delaware depends on various personal factors, such as your credit score and debt-to-income ratio.
Use your original mortgage rate as a starting point. If you receive higher refinance rates, refinancing your mortgage may not be worthwhile.
Delaware's average refinance rate for a 30-year FRM is 5.13%.
The current average refinance rate for a 15-year FRM in Delaware is 4.38%.
The average refinance rate for a 5/1 ARM in Delaware is currently 4.19%.
Read More on Mortgages
sources
- FRED. "Mortgage Rates." Accessed July 12, 2022.