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Hawaii mortgage rates hold below 6.5%
For a second week, most Hawaii lenders quoted less than 6.5 percent for a 30-year, fixed-rate home mortgage, the Honolulu Board of Realtors reported Friday.
First Hawaiian Bank, Bank of Hawaii, American Savings Bank, Central Pacific HomeLoans, Finance Factors, Territorial Savings and Wells Fargo all quoted 6.375 percent. With a spectrum of point and fee differences, their actual annual percentage rates spread across a range of more than 8/100 of a percent.
Hawaii National Bank quoted a higher rate, 6.5 percent, while Countrywide Home Loans quoted a lower one, 6.25 percent.
For 15-year notes, Territorial quoted 5.75 percent, Bankoh and American Savings Bank quoted 5.875 percent, and the other major local lenders quoted 6 percent. This generally represented a lower rate than last week.
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Pinal County Resale Housing Market Experiences Similar Decline as ...
During the second quarter of 2006, there were 1,180 resale homes recorded sold in Pinal County, while it stood at 1,110 for the first quarter 2006 and 1,785 sales for a year ago. For second quarter 2006, there were 18,310 sales recorded in Maricopa County.
The Pinal resale housing market has been popular for households seeking affordable housing that is increasingly difficult to find in Maricopa County. For second quarter 2006, the median home price in Pinal County was $211,000, while it was $220,000 in the fourth quarter 2005 and $162,000 for a year ago.
For the second quarter, the median home price in Pinal County was 80 percent of the $265,000 in Maricopa County. The average 30-year mortgage for second quarter 2006 was 6.2 percent. Based on an 85 percent loan-to-value, the monthly mortgage payment for the median price home in Pinal County would be $1,100 ($900 for a year ago), while it would be $1,380 for a home in Maricopa County.
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