Aloha Everyone,
A lot has happened in the market place. News and today's rates are below.
Market Highlights
•· $700 billion bail out approved
•· Citigroup and Wells Fargo fighting to buy out Wachovia
•· Multi-billion dollar settlement announced over alleged unfair/deceptive practices by Countrywide
•· First Horizon now MetLife Home Loans
•· Dow Jones drops below 10,000 for the first time in 4 years
•· Oil at 8 month low below $88 a barrel
Interest Rates, 30 day lock - as of 10/6, 10am HI time
(compiled from Central Pacific, First Hawaiian, Countrywide, Wells Fargo, MetLife, and more. These are their wholesale rates we have access to, often lower than going to these banks directly)
30 yr fixed: 5.375% w/ 2 points, 5.625% w/ 1 point, 6% w/ 0 points
15 yr fixed: 5% w/ 2.125 points, 5.375% w/ .875 points, 5.75% w/ 0 points
5/1 ARM: 5.375% w/ 1.375 points, 5.625% w/ .875 points, 5.875% with .375 points
Products
The following are available in the market:
•· Stated Income/Stated Assets (will verify employment)
•· 100% Financing on 30 yr fixed (geographic/income restrictions)
•· VA financing up to $793,750. VA jumbo available up to 1 mil.
•· Jumbo Loans
•· CondoTels
•· 90% Financing on Construction loans
•· 10-40 yr fixed rate programs
Feel free to call me for updated rates and scenarios. Have a great week!
http://www.HawaiisMortgageGuy.com
Aloha Everyone,
Rates higher than last week. Stocks fall as investors shaky about government buy-out of $700 billion in mortgage debt. News and updated rates below...
http://www.HawaiisMortageGuy.com
Market Highlights
•· Executives and Board members of Fannie Mae and Freddie Mac being replaced
•· Stocks fall, Dow Jones drop over 200 points
•· Gas up by $11 a barrel
•· New home construction at 17 yr low
Interest Rates, 30 day lock - as of 9/22, 9am HI time
(compiled from Central Pacific, First Hawaiian, Countrywide, Wells Fargo, First Horizon, and more. These are their wholesale rates we have access to, often lower than going to these banks directly)
30 yr fixed: 5.5% w/ 2.5 points, 5.75% w/ 1.375 point, 6.125% w/ 0 points
15 yr fixed: 5.125% w/ 2.125 points, 5.5% w/ 1 point, 6% w/ 0 points
5/1 ARM: 5.625% w/ 2.125 points, 6% w/ 1 point, 6.25% with 0 points
Products
The following are available in the market:
•· Stated Income/Stated Assets (will verify employment)
•· 100% Financing on 30 yr fixed (geographic/income restrictions)
•· VA financing up to $793,750. VA jumbo available up to 1 mil.
•· Jumbo Loans
•· CondoTels
•· 90% Financing on Construction loans
•· 10-40 yr fixed rate programs
Feel free to call me for updated rates and scenarios. Have a great week!
Aloha Everyone,
Rates dip again! Foreclosures increased last month. Lots going on today with another lender closing and oil prices dropping below $100 a barrel. News and updated rates below...
Market Highlights
•· Feds to hold rates steady this week, possibly through the rest of the year (according to Associated Press)
•· Lehman Brothers files BK
•· Bank of America bidding to buy out Merrill Lynch
•· Foreclosures up 28% from previous month. CA, AZ, and FL combined accounted for over half of all foreclosures in the U.S.
•· Oil drops to $94 a barrel
Interest Rates, 30 day lock - as of 9/15, 7am HI time
(compiled from Central Pacific, First Hawaiian, Countrywide, Wells Fargo, First Horizon, and more. These are their wholesale rates we have access to, often lower than going to these banks directly)
30 yr fixed: 5.25% w/ 2.125 points, 5.5% w/ 1 point, 5.875% w/ 0 points
15 yr fixed: 4.875% w/ 1.875 points, 5.125% w/ 1 point, 5.625% w/ 0 points
5/1 ARM: 5.125% w/ 1.625 points, 5.375% w/ 1 point, 6% with 0 points
Products
The following are available in the market:
•· Stated Income/Stated Assets (will verify employment)
•· 100% Financing on 30 yr fixed (geographic/income restrictions)
•· VA financing up to $793,750. VA jumbo available up to 1 mil.
•· Jumbo Loans
•· CondoTels
•· 90% Financing on Construction loans
Feel free to call me for updated rates and scenarios. Have a great week!
Aloha Everyone,
Rates drop big time in reaction to Freddie and Fannie Mac. I compiled news and rates below...
Market Highlights
•· Government takes over Fannie Mae and Freddie Mac with concern that the 2 corporations would continue to decline
•· Carteret Mortgage closes offices, including Hawaii
•· GMAC Mortgage closes all 200 offices, 4 in Hawaii, laying off 5,000 employees
Interest Rates, 30 day lock - more rates sheets still coming, this is as of 7:30am.
(These are wholesale rates we have access to, often lower than going to these banks directly)
30 yr fixed: 5.375% w/ 2.125 points, 5.625% w/ 1.25 points, 6% w/ 0 points
7/1 ARM: 5.625% w/ 1.875 points, 5.875% w/ 1.125 points, 6.375% w/ 0 points
5/1 ARM: 5.5% w/ 1.625 points, 5.75% w/ 1 point, 6.375% with .125 points
Products
The following are available in the market:
•· Stated Income/Stated Assets (will verify employment)
•· 100% Financing on 30 yr fixed (geographic/income restrictions)
•· VA financing up to $793,750. VA jumbo available up to 1 mil.
•· Jumbo Loans
•· CondoTels
•· 90% Financing on Construction loans
Please call me for updated rates and scenarios.
Aloha,
Pete
Hey folks,
I normally send out updates in the beginning of the week, but a lot has gone on the last couple of days:
Market Highlights
•· Carteret Mortgage closes offices, including Hawaii
•· GMAC Mortgage closes all 200 offices, 4 in Hawaii, laying off 5,000 employees
Interest Rates, 30 day lock - DROPPED
(compiled from CPHL, FHB, Countrywide, Wells Fargo, First Horizon, and more. These are wholesale rates we have access to, often lower than going to these banks directly)
30 yr fixed: 5.75% w/ 2 points, 6% w/ .875 points, 6.25% w/ 0 points
7/1 ARM: 5.5% w/ 1.875 points, 5.75% w/ 1 point, 6.25% w/ 0 points
5/1 ARM: 5.25% w/ 1.75 points, 5.5% w/ 1.25 points, 6% with 0 points
Have a safe weekend,
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Hawaii's Mortgage Loan Officer to Refinance or Purchase Real Estate
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