Aloha & Good Morning!
Today Maui will be sunny with a high of 87
degrees.
Mortgage news has made headlines for a long
time with historically low rates. As we
continue to watch what is happening it is clear that this news is very
important to all of us. I will do my
best to bring you the most recent news that I find important so that you can make
a well-informed decision on how to move forward. I can also help you know how much the change
in rates will affect your payments. I
have a program that I can plug your numbers in and I can help you see the
difference in your payments. Feel free
to contact me by phone, text or email and we can look at your individual
numbers.
Current
Mortgage Rates
source: mortgagenewsdaily.com
Mortgage Articles
- Click on the link to read the full articles
Mortgage
Rates on Six Week Streak of Rising - Since beginning their climb last month, the 30-year fixed-rate
mortgage has increased over half a percentage point.
Mortgages:
30-year fixed rate has jumped a point since early May - While rates are
historically low it is fair to say that any increase in rates will add to your
overall payments.
Bond
Yields Guiding Mortgage Rates Climb for Fifth Straight Day - The
average cost of a new 30-year, fixed-rate home loans climbed yesterday to 4.51
percent from a record low 3.36 percent in December, according to Bankrate.com
data.
Mortgage
rate rise has lenders easing credit standards - “I was hoping rates
would come back down and then I realized they weren’t going to,” said Bulaich,
24, who works for a bank. “Homes are still affordable, so that takes some of
the sting” out of it.
NEW LISTINGS JUST FOR YOU
Kihei Village Condo - This 2bd/1.5ba
unit hasn't even hit the MLS yet and I wanted to make sure you know about it
first. The unit has Silestone
countertops in the kitchen with a granite double sink. There is bamboo hardwood flooring in the
living room and tile in the entryway, kitchen and hallway. The bathrooms have been upgraded and there is
a full size HE washer and dryer that are still under warranty. The unit is very nicely upgraded and has
cable and phone jacks in each room. The unit will be in MLS for everyone to see starting Monday so if you have interest please let me know right away. Sales in this complex are going into escrow fast!
OPEN HOUSE
Kamaole
Sands #5-305 - This is the best of the best in Kihei! VIEW, VIEW, VIEW!!!
Ocean view from master bedroom, ocean view from living room and kitchen &
gorgeous Haleakala view from 2nd bedroom. Watch the sunrise over Haleakala in
the am & sunset from your ocean view lanai. Watch the whales jump & Mamma
& baby swim by without leaving your condo. Continuous sheltered ocean
breezes & sheltered afternoon sun from the position of the building &
placement of palms trees, makes the location of this unit superb! A/C is rarely
needed. This condo is a rare two bed/two bath in the inner circle & all on
one level. Completely remodeled in 2006. Cabinets are African mahogany with a
bamboo pattern carved into the doors. Granite countertops. Double sink in
master bath. This beautiful 15 acre complex is located directly across from
Kamaole Beach III. It boasts a large swimming pool, 3 hot tubs, 3 tennis courts
& 8 BBQ areas. Fresh water ponds & waterfalls add to the gorgeous
tropical landscaping. There is also an onsite activities desk, a gym with new
equipment & professional security. Each gate has video surveillance cameras
as well as throughout the complex. AND, to top it off...weekly Maui Tai parties
at the pool, offering professional singers, hula dancers & free drinks!!!
Unit being sold furnished. Has two parking spaces.
Unable to come?
Check out the full listing HERE!
WHEN: Saturday
& Sunday, June 29th & 30th
TIME: tba, check
the RESM website for updates on time
WHERE: Kamaole
Sands
2695 S Kihei Road, #5-305
Need help finding the
open house? Give me a call or text
808-298-7850
WINDERMERE VALLEY ISLE PROPERTIES FOUNDATION
Last week I participated in the annual work day with Windermere. We closed down the office and focused our
energy on giving back to the community at the Maui Farm. The Maui Farm is a nonprofit organization in
Makawao that provides farm-based programs to help transitioning youth and
homeless families become responsible self-sufficient members of our community. I feel so lucky to have had the experience of
helping to beautify this amazing organization.
A big mahalo to all the volunteers that helped with this. Among the many activities we did to beautify this land we weeded the flower and vegetable gardens and cleared it all out so that they can till the land and plant more. We could not have picked a better organization to help out at this year's annual work day!
RESM
IS MOBILE
In case you missed the BIG ANNOUNCEMENT'S in the last few newsletters.. the
new Real Estate Sales Maui Mobile App is now available. The mobile app is free for download on both
Android and Apple products. The app allows you to search for properties on Maui and neighboring islands. You will be able to quickly review property pricing, location and detailed listing information. In the RESM app you can scroll through photos of homes, condos, time-shares, businesses and vacant land for sale and you can use an interactive map to find your property. You can also save your favorite properties and have one touch access to recent property searches you've made. Check out all that this app has to offer and download it today for FREE!!!
Don't forget to get your name in for this
year's exciting i-Pad giveaway!
Looking for more great articles, videos and advice? Check out the Real
Estate Sales Maui Team on FACEBOOK,
TWITTER, BLOGGER and PINTEREST Looking for the current Bank Owned Foreclosures on Maui? Click HERE.
Last
Week In The News
Over the last few days, we have seen unprecedented volatility in mortgage
rates. In general, mortgage rates follow the long-term (10-year) US government
bond rates, but they also vary based on investor demand for mortgage-backed
securities. So when long-term bond rates move, the mortgage rates can move
either more or less than the government interest rates, depending on demand for
mortgage-backed bonds.Because the Federal Bank has been buying both US bonds and mortgage-backed bonds, the rates on those have been artificially low for quite a while. In a recent speech Federal Reserve Chairman Ben Bernanke said that they would eventually stop buying these bonds. That would mean that at some point in the near future a huge buyer (US Government) would leave the market and rates would have to rise to attract other buyers for those bonds.
The result was that no one wanted to be the last person to get only today's low rates on their bond investment so most everyone stopped buying mortgage-backed bonds almost immediately. Worse yet, some bond owners were forced to sell because of margin calls and for other technical reasons. To attract someone to buy those bonds, interest rates had to move up now, instead of waiting until the Fed actually stopped buying.
We don't know how long this volatility will last but usually it doesn't take too long for a market to find its equilibrium. Odds are that rates will go up and down and settle somewhere higher than they were a couple of weeks ago.
The best advice for borrowers is that no one knows where rates will end up (if they did they would indeed be wealthy). So, if today's rate is acceptable, it's best for borrowers to lock it now since tomorrow's rate is equally likely to be higher or lower.
Craig
Haueisen is a Loan Officer with Prospect Mortgage. Please feel free to
email him or call him for any of your Mortgage needs.
Office: 808-298-7549 or Email: craig.haueisen@prospectmtg.comClick here to visit Craig's website and apply online: http://myprospectmortgage.com/CHaueisen
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