July 2020

Hi friends,

Most buyers start their house hunt by getting a feel for the market. Which neighborhoods suit you best? What style of home do you prefer?

Perhaps more importantly, though, you first need to know what you can afford.

In that regard, there’s great news: Right now, your money goes further than ever!

Since late 2019, mortgage rates have been steadily falling. We’ve seen new record lows set multiple times since February. Now sitting at just above 3%, the current national average rate on a thirty-year conventional mortgage is undeniably appealing.

For buyers, this means you can buy “more house” with the same income and savings (or pocket the difference for a rainy day).

For sellers, this means a better chance at higher, multiple offers.

For investors, this means an opportunity for increased leverage. The national average for 15-year fixed-rate and 5-year adjustable-rate mortgages are at rock-bottom, too!

If the trend continues, rates may fall even lower. Either way, now is a uniquely good time to finance a deal. If you’re thinking of making a change, let’s talk strategy!

We'll leave you with a gorgeous snapshot taken by our own Hoku Gunderson at Big Beach in Kihei, Maui (above). We hope lately you've been finding your own rainbow amongst the storm.

Talk soon,
Mike & Lisa Styring
Hawaii Realty International