Hawaii Mortgage Interest Rates / Hawaii Mortgage News 11/17/08

Aloha Everyone,

Reports say Japan is officially in recession, which dipped oil prices today for fears of demand decreasing. On the positive, rates remain relatively steady after last weeks rate dip. Below is today's interest rates and market news.

Market Highlights

•· Fannie and Freddie looking to launch plan on Dec 15^th to save loans 90 days late in payments and less than 10% equity

•· Citigroup plans on laying off 50,000 employees in response to the economy

•· Bankruptcy filings up 25% last month compare to October of last year

Interest Rates, 30 day lock (wholesale rates, usually lower than banks advertised rates) - as of 11/17, 9:30am 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: 5.875% w/ .75 points, 6% w/ .625 points, 6.25% with .125 points

Products

The following are available in the market:

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

•· Stated Income/Stated Assets with 720 FICO and 500k net worth

•· 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

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