Honuaâ��ula approved with conditionsBy a vote of 5-4 the Maui County Council has approved the controversial Honua’ula housing development. More than 30 people spoke for and against the proposed South Maui development.

Supporters say it will create affordable housing for Maui’s work force as well as construction jobs.

Opponents argue it will have a negative impact on the environment, create too much traffic and the affordable homes will still be too expensive for average working people.

Read the interesting article from The Maui News in it’s entirety.

We are finally starting to see rates go in the right direction…Down. 

Interest rates still have a way to go and the Fed knows it since yesterday they lowered the discount rate (http://biz.yahoo.com/ap/080317/fed_credit_crisis.html)  and this week are expected to lower the Fed Fund rate further.  Hopefully these moves coupled with the poor economic reports we are seeing, interest rates we are seeing at the street level will go lower than what we saw before the fed got involved 2 months ago.  ((Back then interest rates were a full .75 to 1.00 lower than what we are seeing today))I of course will keep you up to date on interest rates and their direction.  In the meantime, please feel free to call or email me with questions.

Have a great week!

Best regards,

Rob McCarthy

Owner and Senior Mortgage Planner

408-377-4123 Direct www.thehontegroup.com

LEARN FROM HAWAII’S MOST RESPECTED ECONOMISTS FORECASTS FOR MAUI:
http://www.mauinews.com/page/content.detail/id/500982.html