With rumors of the FEDS doing a rate cut next week, mixed with an increase in jobless claims, mortgage rates took a dip.
Below are the average rates according to a survey of large lenders with an average of .43 points. It is possible to lower the rate by paying more points up front.
808 Home Mortgage, Inc. can offer wholesale rates from different lenders/banks. Today for a 30 yr fixed mortgage I can get your clients 5.875% with 1.25 points, 6.125% with .75 points, or 6.25% with .125 points. Lower than the average rates below.
The average 30-year fixed dropped to 6.28%.
The average 15-year fixed fell to 5.96%.
The average jumbo 30-year fixed fell to 6.3%.
5/1 ARM fell to 6.2%.
Home Equity Loans Rates remain about the same:
The average HELOC at 8.25%.
The average fixed-rate home equity loan at 8.05%.
Let me know if you want me to run specific scenarios for your Hawaii Mortgage Refinance or Hawaii Real Estate Purchase!