Interest Rates

Interest rates continue to inch up. Here is the latest post from one of the Hawaiian lenders:

Current Mortgage Rates for MAUI COUNTY, HI

Check out our rates. I’ve included below a selection of current rates for a few of our many products. I’d be happy to discuss options with you and your client based on their particular needs.

Conforming

Loan Type

MI Type

Interest Rate

Discount Points

APR

VA 30-year Fixed

2.750%

0.250

2.896%

Conforming 30-year Fixed

3.375%

0.125

3.428%

Conforming 15-year Fixed

2.500%

0.500

2.647%

Conforming 5-year/6-month ARM

2.500%

0.250

2.725%

Conforming 7-year/6-month ARM

2.750%

0.375

2.821%

Jumbo

Loan Type

MI Type

Interest Rate

Discount Points

APR

Jumbo 30-year Fixed

3.000%

0.375

3.056%

Jumbo 15-year Fixed

2.875%

0.250

2.959%

Jumbo 5-year/6-month ARM

2.375%

0.500

2.686%

Jumbo 7-year/6-month ARM

2.500%

0.250

2.682%

Jumbo 10-year/6-month ARM

2.625%

0.375

2.730%

Rates shown are for purchase loans only. This information is accurate as of 10/22/2021 8:04:41 PM (CT) and is subject to change without notice.

Intrest Rates May Rise Mid Year

For the first time since the economy fell 7 years ago, the Federal Reserve is considering raising interest rates.  The move to raise interest rates could come as early as June.  Those looking to borrow money for a mortgage still have the opportunity to take advantage of the extremely low rates!

Some are surprised by the June date for rate increases.  Previously the Federal Reserve had indicated rates would increase much sooner than this spring.  The Federal Reserve will remain patient when deciding to raise the rates waiting for an improvement in the labor market.  With the drop in the market today, the Federal Reserve may decide not to increase rates after all.

For more information on the Federal Reserve interest rate news, you can view the entire article via the NY Times here.

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Pending Trends Jan. 3 to March 13

 

With the possibility of a rate increase in the near future, now is the time for those looking for property to buy so take advantage.  Pending listings are at their highest this year with 83 properties pending from March 7 – March 13!  The Hansen Ohana is a full service real estate company ready to help you reach your property dreams!  Contact us today!