Weekly American Saving Bank Mortgage Rates Update (7/8/2022)

US 10 year Note went back to 3.09% on Friday, but our Jumbo Rate is lower than last week!

Sign of Recession?

-1.6% GDP in Q1 2022 and the forecast from the GDP now is  looking at -2.1% in Q2.

June Unemployment Rate remained at 3.6%.

Average hourly earnings were up 0.3% monthly.

Annual earnings rose 5.1% down from 5.3% in May.

Total unemployed fell to 6.7% from 7.1%

We have special pricings for developer units only for A’alii & Koula Ward Village

Must record by September 30, 2022

–A’alii –   

Owner Occupied buyers with at least 20% down payment( or10% down payment with ASB HELOC)  / Fico 740 above

2nd Home / Require 20% down payment /  Fico 740 above

 3.50%  / 1.75 points

3.625%/ 1.25 points

3.75 %/  0.75 points

Investment / Require 25% down payment / Fico 740 above

3.75%  / 1.50 points

3.875%/ 1.00 points

4.00 %/  0.50 points

–KOULA Ward Village–  

Owner Occupied buyers with at least 20% down payment (or 10% with ASB HELOC) / Fico 740 above

2nd Home / Require 20% down payment /  Fico 740 above

4.75 % / 1.75 Points

4.875%/ 1.50 Points

5.00%  / 1.00 Points

Investment/ Require 25% down payment / Fico 740 above

 5.00%  / 1.75 Points

5.125%/ 1.50 Points

5.25% /  1.00 Points

Our Jumbo loan, we can go loan amount up to $2.75 M now.

Jumbo loan, we can do for 10 % down with MI or with 2^nd mortgage as well

Following rates are for purchase, please contact me for re-financing rate.

Check out our mortgage rates today! https://www.asbhawaii.com/personal/mortgage-rates

(Rate will be updated around noon every day)