Hey Folks,

Below are today's rates as well as market news.  Here's to a great 2009!

 Market News:

•·         With the rates dropping in December, mortgage applications went up about 62% for refinances and 17% for purchases

•·         Obama proposing $300 billion in tax cuts to help revive economy

•·         The Dow on a record 2 month high, while auto sales continue to hurt

Interest Rates, 30 day lock (wholesale rates, usually lower than banks advertised rates)- as of 01/05, 10am:

30 yr fixed: 4.5% w/ 2.125 points, 4.75% w/ 1.125  points, 5.25% w/ 0 points

15 yr fixed:  4.25% w/ 1.25 points, 4.5% w/ .625 points, 4.75% w/ 0 points

VA 30 yr fixed:  4.75% w/ 2 points,  4.875% w/ .5 points, 5.375% with 0 points

Products:

The following are available in the market:

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

•·         Stated Income/Stated Assets (720 FICO and 500k net worth)

•·         100% Hawaii VA Loans up to $793,750.  Hawaii VA jumbo available up to 1 mil.

•·         Jumbo Loans

•·         CondoTels

•·         90% Financing on Construction loans

•·         10-40 yr fixed rate programs

Have a great week!

Pete

 Visit  http://www.HawaiisMortgageGuy.com  to prequalify

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