Hawaii Mortgage Interest Rates 8/09

Aloha Everyone,

Mortgage interest rates FALL again for the third straight week, except for jumbo loans which increased.  Investors felt that conforming borrowers will make their mortgage payments so conventional loan products interest rates fell.  But they are less sure about Jumbo, Adjustable, and Stated Income mortgages.

Below are the average rates according to a survey of large lenders with an average of .25points.  It is possible to lower the rate by paying more points up front.   For example 1 point can get about 6.25%, 2 points can get about 6% for a 30 yr fixed mortgage.

Let me know if you want me to run specific scenarios for your Hawaii Mortgage Refinance or Hawaii Real Estate Purchase!

The average 30-year fixed dropped to 6.66%.

The average 15-year fixed fell to 6.33%.

The average jumbo 30-year fixed rose to 7.35%.

5/1 ARM fell to 6.55%.

Home Equity Loans Rates mixed:

The average HELOC went up to  8.25%.

The average fixed-rate home equity loan dropped to 8.04%.

Mahalo and have a great week!

Pete Castillejos