| Hawaii Mortgage Rates Rise - 11/05/2004
Hawaii mortgage rates rise from 5.25% First Hawaiian Bank this week held at 5.25 percent for a 30-year, fixed-rate home mortgage, but Bank of Hawaii went to 5.375 percent, and several smaller banks in the islands went the latter way. American Savings Bank, Central Pacific Bank, City Bank, Finance Factors and Hawaii National Bank all added the same eighth of a point that Bankoh did, though none of them charged points as low as Bankoh. In lockstep with First Hawaiian at the lower level this week were Countrywide, Hawaii HomeLoans, and Territorial Savings. Hawaii HomeLoans, charging more points than others, wound up with an APR not much below Bankoh's. For 15-year notes, the five largest banks quoted three rates, something that doesn't happen very often. At the bottom of the range this week was First Hawaiian at 4.5 percent. At the top of the range was City Bank with 4.75 percent. In the middle were Bankoh, American Savings Bank and Central Pacific, quoting 4.625 percent. Selected quotes on 30-year fixed-rate mortgages supplied by lenders this week to the Honolulu Board of Realtors: American Savings Bank: 5.375 percent (1.625 points, 5.569 APR). Bank of Hawaii: 5.375 percent (1.25 points, 5.488 APR). Central Pacific Bank: 5.375 percent (2 points, 5.604 APR). City Bank: 5.375 percent (1.75 points, 5.58 APR). Countrywide Home Loans: 5.25 percent (2 points, 5.821 APR). Finance Factors: 5.375 percent (2 points, 5.582 APR). First Hawaiian Bank: 5.25 percent (2 points, 5.443 APR). Hawaii HomeLoans: 5.25 percent (2.125 points, 5.469 APR). Hawaii National Bank: 5.375 percent (2 points, 5.557 APR). Territorial Savings: 5.25 percent (2 points, 5.467 APR). Wells Fargo: 5.375 percent (1.375 points, 5.499 APR).
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