Mortgage rates fell this week, boosting the housing market’s recovery. The 30-year fixed-rate mortgage averaged 6.32% for the week ending March 30, according to Freddie Mac. As major housing indicators improve, borrowing costs are heading down. However, limited housing options will likely hinder some potential buyers this spring. Baby boomers, who own homes and have more wealth than younger generations, are now the top homebuying force in America.
Interest rates continue to inch up. Here is the latest post from one of the Hawaiian lenders:
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.
|
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% |
|
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.
Hawaii Real Estate Blog 