Aloha Everyone,

I hope everyone had a safe Independence Day!

No major news this past week that would affect interest rates, in fact rates are about the same as last week.  Year by year inflation comparisons dipped slightly under 2% for the first time in 3 years pushing Treasury yields a little lower.  But not enough to affect mortgage rates.

Below are the average rates according to a survey of large lenders with an average of .25 points.  It is possible to lower the rate buy paying more points up front.   For example 1 point can get 6.5%, 2 points can get 6.25% 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 rates at 6.74 percent.

The average 15-year fixed at 6.41 percent.

The average jumbo 30-year fixed at 6.97 percent.

5/1 ARM at 6.48 percent.

Home Equity Loans Rates are the same:

The average HELOC at 8.2 percent

The average fixed-rate home equity loan at 8.4 percent.

Mahalo and have a great week!

Pete Castillejos