Archive for July, 2010

Mortgate Rates Lowest In History

Rates on long- and short-term Hawaii home loans have never been more affordable. Last week, the national average for 30-year fixed rate mortgages sank from 4.75 to 4.69 percent to reach its lowest recorded level in history.

Rates on 15-year fixed-rate, as well as five- and one-year adjustable-rate mortgages also hit new lows.

Many experts are saying that the European debt crisis has helped drive down rates as investors flee European investment which is regarded as volatile right now. Investors have transferred major amounts of wealth into U.S. Treasury bonds, causing Treasury yields to fall. This in turn is driving down borrowing rates.Rates Have Never Been Lower!

News sources are quick to point out that, despite these record-setting lows, the demand for housing has never been weaker. This may be the good news you’ve been waiting for. A low demand for new loans means lenders will jump at the chance to give qualified borrowers access to these record low rates.

These historically low rates are combining with low asking prices to make this one of the best times to buy in history. Locking in these low fixed rates means, regardless of the future market, you’ll never have to worry about your rates going up. Act now because these rates could change without notice. This is your opportunity to realize your dream of owning property in Hawaii.

Team up with Hawaii’s top agents using RE-Direct at Best of Hawaii Real Estate on your journey to Hawaii residential or commercial ownership. We are your no-cost connection to Hawaii’s best and most qualified real estate professionals.