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The Honolulu Advertiser
Posted on: Friday, November 9, 2001

Hawai'i mortgage rates fall to 6.18 percent

 •  Mortgage rates plunge to new low

Advertiser Staff

As nationwide mortgage rates have plunged, so have local home mortgage rates, according to an Advertiser analysis of Honolulu Board of Realtors data.

The average 30-year mortgage rate in Hawai'i was 6.18 percent Wednesday, easily the lowest rate in more than a year. That rate is down from 7.64 percent last year.

The average rate for 15-year mortgages was 5.82 percent, down from 7.40 percent the previous year.

That means a Hawai'i borrower getting a $300,000, 30-year mortgage this week would pay $1,833 per month — $289 per month less than would be owed under a 7.64-percent mortgage.

Under a 15-year, 5.82 percent mortgage, the monthly payment would be $2,502, a savings of $262 per month over a 7.40 percent mortgage.