Rates Rise For Honolulu Real Estate Loans

February 19th, 2010 categories: Mortgages & Financing, The Market

Yesterday, I was talking with Tim O,Leary, of Wells Fargo, and he let me know that interest rates have risen about an eighth of a percent in the last week. I asked him what interest rate a buyer would get if they would have locked a rate today and he said it would be around 4.875%. That is up from about 4.75% the week before.

I asked Tim about his short to mid-term prognosis for interest rates and I got the impression that he thinks we have seen the lows and that rates could be around 6% at the by the end of the year.

Maybe I am showing may age but either rate does not sound high (4.875% or 6%) to me. In fact, in my opinion, any rate below 8% is a low rate. Obviously, I like them as low as possible since it helps buyers to purchase more of a home and sellers to get sold. Here is the moral of this blog post, if you are thinking about buying, now is a great time to make you loan application, get pre-approved and buy they home you have been dreaming about.

If you want to call Tim, you can reach him at 808-227-1199.

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If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.

This entry was posted on Friday, February 19th, 2010 at 2:26 pm and is filed under Mortgages & Financing, The Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.