Since the latest update on the 28th, Hawaii mortgage rates really took a leap up in price. Just 2 days ago you could get a 30 year fixed rate mortgage at 5% with only 1 point, while today 5% has doubled up to 2.125 points.
However, to keep it all in perspective I must say that Hawaii mortgage lenders and brokers are quite busy despite the rapid and significant changes in rates and fees.
One other interesting note came from Wells Fargo which stated that:
Starting next week, we will be changing our prioritization of loans, instead of first in first out, we will put in order of lock expiration.
From what I hear is that a lot of loans in process with Wells and it has been costing many Honolulu mortgage companies and their clients a lot of money to extend the locks on their interest rates.
Now, off to the Hawaii Mortgage Rates for the 30th of January:
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