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August 2015 Archives

Reverse mortgage loan types

Homeowners in Delaware who are thinking about taking out a reverse mortgage home loan may have a few different options available to them. The most popular reverse mortgage loan is the home equity conversion mortgage, or HECM. This type of loan tends to have the lowest rates, and HECM loans are backed by the Federal Housing Administration.

Mortgage rates remaining at historically low levels

People who are planning to purchase homes in Delaware may be pleased to learn that mortgage rates are at historically low levels. On July 30, the Federal Home Loan Mortgage Corporation, also known as Freddie Mac, released a report about mortgage rates called the Primary Mortgage Market Survey. It reported that average rates for 30-year fixed mortgages were around 3.98 percent for the week.