Aloha Everyone,

A month ago the Dept of Labor reported a loss of 4,000 jobs. This month, the economy grew by 89,000 jobs!  But an improving economy usually means a rise of interest rates, which is what happened this week.  :(

808 Home Mortgage, Inc. can offer wholesale rates from different lenders/banks.  Today for a 30 yr fixed mortgage I can get your clients 6.125% with 1 point, or 6.25% with .5 points, 6.375% with 0 points, lower than the average rates below.

Below are the average rates according to a survey of large lenders with an average of .34 points.  Lower rates available by paying more points up front.

The average 30-year fixed rose to 6.5%.

The average 15-year fixed rose to 6.18%.

The average jumbo 30-year fixed fell to 7.27%.

5/1 ARM fell to 6.37%.

Home Equity Loans Rates about the same:

The average HELOC at 7.87%.

The average fixed-rate home equity loan about the same at 8.07%.

Let me know if you want me to run specific scenarios for your Hawaii Mortgage Refinance or Hawaii Real Estate Purchase!

Mahalo!

Pete Castillejos

808 Home Mortgage, Inc.