HawaiiRealEstateReport.com

MARKET UPDATE: Neighbor island home prices mixed amid increased sales. The number of homes sold on Hawaii island, Maui and Kauai rose in October, but median prices were mixed among the three neighbor island housing markets.
Median prices rose the most for Hawaii island single-family homes and fell the most for Kauai condominiums, though the relatively small number of sales in these markets often produces big swings in the median price that can be swayed by the location, size, age and quality of properties.
The median jumped 24 percent for Hawaii island single-family homes to $299,999 last month from $242,000 in the same month last year, according to data from Hawaii Information Service. The median was based on 155 sales last month, up 20 percent from 129 a year earlier.
On Maui, single-family home sales surged 32 percent to 98 last month from 74 a year earlier.

On Kauai, sales and median prices moved in opposite directions, data from Hawaii Information Service showed. There were 38 single-family home sales on the Garden Isle last month, a 41 percent gain over 27 sales a year earlier. For Kauai condos the number of sales rose 38 percent to 29 last month from 21 a year earlier.

Jumbo Rates
Conventional Rates $1M – 70% LTV Max
15 Year Fixed 30 Year Fixed 30 Year Fixed
2.75% @ 1.75pts
3.375% @ 1.5pts
3.625% @ 2.0pts
2.875% @ 1.375pts
3.5% @ 0.75pts
3.75% @ 1.5pts
3.0% @ 0.625pts
3.625% @ 0.0pts
3.875% @ 0.75pts

FHA Rates VA Rates
30 Year Fixed 30 Year Fixed
3.25% @ 0.75pts
3.25% @ 0.75pts
3.375% @ 0.25pts
3.375% @ 0.25pts
3.5% @ 0.0pts

Quotes of the Day:

Failure is not a single, cataclysmic event. You don’t fail overnight. Instead, failure is a few errors in judgment, repeated every day.
Jim Rohn

Money won’t make you happy, but everybody wants to find out for themselves.
Zig Ziglar

Work and play are words used to describe the same thing under differing conditions.
Mark Twain

Hello!

MARKET UPDATE: Interest rates continue to be driven largely by events in Europe. With little expected from Greece until elections later in the month, markets are more focused on Spain at the moment where the 2nd downgrade of the month from ratings agency, Egan Jones, pushed the Euro to a new multi-year low today, and helped domestic interest rates hold their ground near recent lows.
Mortgage Rates and the Mortgage-Backed-Securities (MBS) that most closely direct them, were not able to improve at the same pace as Treasuries today, but that pace was relatively modest in the first place. Furthermore, when Treasuries are in high demand due to “flight-to-safety” type rallies, they generally have an easier time moving lower than mortgage rates, which we’ve discussed in the past.
In terms of the calendar of potentially market-moving events, the first two days of this holiday-shortened week are fairly light, and are exceptionally light compared to Thursday and Friday. Several important reports are released on Friday morning including the most important piece of economic data each month: The Employment Situation Report (aka “jobs report” or “NFP” which refers to the headline component of the report: “non-farm-payrolls”). Unlike much of our domestic economic data of late, the Jobs report does have a good amount of market moving potential despite the recent dominance of the European crisis, though the latter should continue to keep domestically-inspired swings to a minimum.

** If you know a homeowner in any of the 50 States, that may be underwater on their mortgage, my company ENG Lending is offering a special government sponsored program to help these people refinance. With rates in the 4s, now is the time to take advantage of this program. We can even offer this program with no costs, no appraisal and limited income documentation! Call me today, if you or someone you know may be interested!
Quotes of the Day,

Learning is finding out what you already know. Doing is demonstrating that you know it. Teaching is reminding others that they know it just as well as you. We are all learners, doers and teachers.
Richard Bach

A single conversation across the table with a wise person is worth a month’s study of books.
Chinese Proverb

Never accept the negative until you’ve thoroughly explored the positive.
Author Unknown

Conventional Rates Jumbo Loan to $1M – 70% LTV Max

15 Year Fixed
30 Year Fixed
30 Year Jumbo Fixed

2.875% @ 1.875pts 3.75% @ 2.0pts 4.75% @ 1.875pts

3.0% @ 1.25pts 3.875% @ 1.375pts 5.0% @ 1.625pts

3.25% @ 0.625pts 4.0% @ 0.5pts 5.375% @ 1.25pts

FHA 30 Year Fixed

3.375% @ 1.875pts

3.5% @ 1.25pts

3.75% @ 0.0pts

Paul M. Tamashiro, CMPS
ENG Lending / Bank of England – AR, FDIC
Branch Manager
NMLS, #189947
Direct Line (808) 216-1395
eFax (866) 402-9544