Aloha Everyone,
I hope you had a safe Halloween!
Mortgage interest rates decline slightly for the 3rd week in a row, but what the future holds is anyone's guess. The FED's announcement that they are cutting the federal fund's rate to 4.5% may impact mortgage rates, but it's hard to say which way it will move.
808 Home Mortgage, Inc. can offer wholesale mortgage interest rates from different lenders/banks. Today for a 30 yr fixed mortgage I can get your clients 5.75% with 1.75 point, 5.875% with 1 point, 5.98% with .875 points, or 6.125 with .25 points, lower than the average rates below.
Below are the average rates according to a survey of large lenders with an average of .38 points. Lower rates available by paying more points up front.
The average 30-year fixed dropped to 6.29%.
The average 15-year fixed dropped to 5.99%.
The average jumbo 30-year fixed fell to 7.03%.
5/1 ARM rose to 6.22%.
Home Equity Loans Rates:
The average HELOC rose 7.81%.
The average fixed-rate home equity loan the same at 8.04%.
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.
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