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Castle & Cooke Mortgage Update - April 2008
30 Year Fixed Interest Rate Trends
Mililani's 40th Anniversary
Well, the roller coaster ride that is mortgage rates in 2008 continues! On March 18th the Fed cut rates again by 3/4 percent and took further action to pump up the ailing credit markets. 30 year fixed rates improved a little bit, back to the 5.5% level that seems to be the low point when rates go down.You may see your home equity line payment go down along with any other loan type that is tied to prime rates.The experts are mixed in their predictions for mortgage rates ahead. Many are saying that mortgage rates will follow inflation reports. If inflation is up, rates will move up, when inflation is reported down, rates will move down. We’ll see how that predictor works in the months ahead. Fasten your seatbelts! The roller coaster ride will continue!
Food For Thought
There is much in the news these days about home prices, home values, and real estate in general. Television shows like “Flip that House” and “The Property Ladder” all focus on homes as a commodity, and how much money can be made, (or not made), in the home-buying world. A recent conversation with one of our new home buyers will give you a different perspective. He said, “This is our home, where we plan to raise our family. That’s what I think about. If I don’t plan to sell, it doesn’t matter what the market does!” Good point! If you need help financing your family’s home give us a call, stop by our Town Center of Mililani office or visit us online at www.castle-cooke.com/mortgage
The Castle & Cooke Mortgage Team
Castle & Cooke Mortgage Contact Information
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