Aloha Everyone,

Hope you had a good Independence Day weekend! Here's current market info from local and national lenders I work with (Central Pacific HomeLoans, Wells Fargo, Countrywide, IndyMac, First Hawaiian Bank, and more):

Interest Rates, 30 day lock

30 yr fixed:  6% w/ 1.75 points, 6.125% w/ 1.375 points, 6.375% w/ 0 points

7/1 ARM:  5.5% w/  1.75  points, 5.75% w/ 1 point, 6.15% w/ 0 points

5/1 ARM:  5.125% w/ 1.75 points, 5.5% w/ 1 point, 5.875% w/ 0 points

Products

The following are still available in the market:

•·         Stated Income/Stated Assets

•·         100% Financing on 30 yr fixed (geographic/income restrictions)

•·         90% Financing on construction loans

•·         FHA (3% down)

•·         VA (100% financing)

•·         Jumbo Loans

•·         CondoTels

 Market Highlights (national

•·         Mortgage applications increased 3.6% week ending on June 27th.  Refi's up 4.7% and purchases up 2.8%

•·         Unemployment steady at 5.5%.  Average hourly earnings rise 0.3% from May to $18.01 in June

•·         Crude oil dropped by almost $4 a barrel

Please contact me for specific questions or scenarios.  Have a good week!

Pete