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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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(AFX UK Focus) 2006-07-19 22:26 GMT: Large banks post 2Q profits above views
NEW YORK (AFX) - Two of the nation's largest banks -- Bank of America Corp. and JPMorgan Chase & Co. -- reported second-quarter earnings above Wall Street expectations, with strength in investment banking and asset management offsetting interest rate pressures on their retail banking operations.
Both banks also reported strong performance in their credit card portfolios, and investors sent their shares up strongly.
The results were in contrast to earnings reports earlier this week from other large banks. Citigroup Inc., the nation's largest financial institution, said its net income rose 4 percent in the quarter, but it was a penny a share short of analysts' projections because of lackluster consumer banking profit. Wells Fargo & Co., the nation's fifth-largest bank, also was a penny a share shy after taking a loss on the sale of some of its adjustable rate mortgages and debt securities.