Aloha Everyone,

Mortgage rates fell finally after nearly 2 months as the market had mixed news about home construction being down and news on the cost of gas going up and down rapidly.

The below rates are with an average of .27 points.  It is possible to lower the rate by paying more points up front, as many buyers choose to pay 1-2 points for a lower rate, especially if they will be in the home long-term.  Paying these points will get you rates between 6.25%-6.5% for a 30yr fixed mortgage.

Let me know if you want me to run specific scenarios.

The average 30-year fixed rate fell to 6.76 percent.

The average 15-year fixed fell to 6.45 percent.

The average jumbo 30-year fixed fell to 6.99 percent.

5/1 ARM fell to 6.58 percent.

The average HELOC is the same at 8.19 percent

The average fixed-rate home equity loan went up to 8.01 percent.