Aloha Everyone,

The average mortgage interest rates rose slightly this week, but pretty steady overall in the past 4 weeks in the range of 6.74%-6.78% with about a quarter point.  Bleak news about the housing market plus the overall economy being relatively steady has kept rates about the same.

Below are the average rates according to a survey of large lenders with an average of .29 points.  It is possible to lower the rate by paying more points up front.   For example 1 point can get about 6.5%, 2 points can get about 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 rose to 6.78 percent.

The average 15-year fixed rose to 6.46 percent.

The average jumbo 30-year fixed rose to 7.02 percent.

5/1 ARM rose to 6.54 percent.

Home Equity Loans Rates are mixed:

The average HELOC at 8.2 percent, same as lat week.

The average fixed-rate home equity loan rose to 8.06 percent.

Mahalo and have a great week!

Pete Castillejos