Mortgage Rates in Millsboro, Delaware — March 2026
Updated March 2026 | Based on Millsboro market data and regional lending conditions
Millsboro is a growing city in Delaware with a population of 4,502. The current 30-year fixed mortgage rate in Millsboro is 6.65%, which is at the national average. With a median home price of $240,000 and a 20% down payment of $48,000, homebuyers can expect a monthly principal and interest payment of approximately $1,233.
Current Mortgage Rates in Millsboro, DE
Below are the current average mortgage rates available in the Millsboro area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.65% | 6.65% | 0% |
| 15-Year Fixed | 5.91% | 5.89% | +0.02% |
| 5/1 ARM | 6.19% | 6.15% | +0.04% |
| FHA | 6.45% | 6.25% | +0.2% |
| VA | 6.2% | 6.05% | +0.15% |
| Jumbo | 6.9% | 6.85% | +0.05% |
Millsboro Housing Market Overview
The Millsboro housing market offers relatively affordable housing compared to many major cities. The median household income in Millsboro is $59,600, and the cost of living index is 101 (national average = 100). Based on the 28% affordability rule, the median income in Millsboro is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Millsboro
Based on the median home price of $240,000 with 20% down ($48,000), here is what you can expect to pay monthly in Millsboro:
15-Year vs. 30-Year Mortgage in Millsboro
Choosing a 15-year mortgage in Millsboro at 5.91% instead of a 30-year at 6.65% would save you $153,900 in total interest over the life of the loan. However, your monthly payment would be $1,611 instead of $1,233 — an increase of $378 per month.
Calculate Your Millsboro Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Millsboro
What are the current mortgage rates in Millsboro, DE?
As of March 2026, the average 30-year fixed mortgage rate in Millsboro, Delaware is 6.65%, while the 15-year fixed rate is 5.91%. FHA loans average 6.45% and VA loans 6.2%. These rates are at the national average of 6.65%.
How much is a monthly mortgage payment in Millsboro?
Based on the median home price of $240,000 with 20% down, the estimated monthly mortgage payment in Millsboro is $1,233 for principal and interest. Including property taxes of $114/month, the total monthly housing cost is approximately $1,347.
What income do I need to buy a home in Millsboro?
Using the 28% rule, you would need an annual income of approximately $57,729 to afford the median-priced home in Millsboro at $240,000. The median household income in Millsboro is $59,600. The median income is currently sufficient to meet this threshold.
Is Millsboro a good place to buy a home in 2026?
Millsboro has a moderate cost of living with a cost of living index of 101 (national average = 100). The property tax rate in Delaware is 0.57%, which is below the national average. Millsboro has a population of 4,502 and offers a balanced lifestyle.
Mortgage Rates in Other Delaware Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Millsboro, Delaware area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.