Hawaii Mortgage Interest Rates / Market News 11/10/08

Aloha Everyone,

Below is today's interest rates and market news. VA Loans are still pretty lenient despite lenders tightening their belts so if you need assistance with those type of loans/clients, I work with 3 VA lenders to choose from. I also work with the very few banks that still fund condo-tel loans.

Market Highlights

•· Job losses playing more of an affect on foreclosures, not just bad mortgages. According to Freddie Mac, 45% of all delinquencies are due to unemployment/loss of income

•· 10 major national markets had home values fall over 17% in the last 12 months

•· Fidelity National Financial acquires LandAmerica Financial Group to reduce combined debt by $250 million

Interest Rates, 30 day lock (wholesale rates, usually lower than banks advertised rates) - as of 11/10, 10am HI time

30 yr fixed: 5.75% w/ 1.625 points, 5.875% w/ 1 point, 6.125% w/ .175 points

15 yr fixed: 5.25% w/ 2.125 points, 5.5% w/ 1.125 points, 5.875% w/ .125 points

5/1 ARM: 6.125% w/ .75 points, 6.25% w/ .5 points, 6.5% with 0 points

Products

The following are available in the market:

•· First Time Home Buyer promotions (less points, free appraisal)

•· 100% Financing on 30 yr fixed (geographic/income restrictions)

•· Hawaii VA loan up to $793,750. VA jumbo available up to 1 mil.

•· Hawaii Jumbo Loan

•· Hawaii CondoTels / Condo Hotel

•· 90% Financing on Hawaii Construction loans

•· 10-40 yr fixed rate program

Feel free to call me for updated rates and scenarios. Have a great week!

Pete

Visit http://www.HawaiisMortgageGuy.com to prequalify

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

Serving All Islands: Hawaii (Big Island) Real Estate Mortgages, Oahu Real Estate Mortgages, Maui Real Estate Mortgages, Kauai Real Estate Mortgages, Lanai Real Estate Mortgages, Molokai Real Estate Mortgages.

Serving All of Oahu, including: Honolulu Real Estate, Hawaii Kai Real Estate, Kailua Real Estate, Waimanalo Real Estate, Kaneohe Real Estate, Pearl City Real Estate, Aiea Real Estate, Mililani Real Estate, Waipahu Real Estate, Waikele Real Estate, Waikiki Real Estate, North Shore Real Estate, Haleiwa Real Estate, Wahiawa Real Estate, and more...

Mortgage Loan Refinance, Hawaii Real Estate Loan