Another good reason to buy and invest in real estate in Hawaii, is the fact that interest rates on new first mortgages are amoung the lowest in the nation. Below is an article that was published in Hawaii's Pacific Business News paper.
"Hawaii mortgage interest rates down
Pacific Business News (Honolulu) - August 31, 2007
Hawaii's three largest banks dropped rates on 30-year fixed interest mortgages again this week.
The decline brought rates on Wednesday to 5.375 percent at American Savings Bank, Bank of Hawaii and First Hawaiian Bank, according to the Honolulu Board of Realtors.
Nationally, the average rate fell to 6.45 percent, according to Freddie Mac's primary mortgage market survey released on Thursday.
Mainland lenders offering higher interest rates made cheaper loans. American Savings and Bank of Hawaii both charged 1.875 points on 30-year fixed rate mortgages, while First Hawaiian charged 2 points.
Nationally, borrowers paid an average 0.5 point for the loans. "
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