ISLAND PROPERTIES

 

 
Lisa Mascaro's Blog
Rates
Brought to you by Dan Bardenhagen of Wells Fargo
September 28, 2018
      

Current Mortgage Rates for MAUI COUNTY, HI
Check out our rates. I've included below a selection of current rates for a few of our many products. I'd be happy to discuss options with you and your client based on their particular needs.

Conforming

Loan Type MI Type Interest Rate APR
5/1 ARM Conforming  4.250% 4.836%
7/1 ARM Conforming  4.375% 4.786%
10/1 ARM Conforming  4.500% 4.756%
30-yr fixed Conforming  4.750% 4.787%
VA 30-yr fixed  4.625% 4.749%

Jumbo

Loan Type MI Type Interest Rate APR
7/1 ARM Jumbo  3.750% 4.479%
10/1 ARM Jumbo  4.000% 4.436%
30-yr fixed Jumbo  4.500% 4.525%
15-yr fixed Jumbo  4.250% 4.277%
Information displayed is accurate as of 9/28/2018 3:50:15 PM (CT) and is subject to change without notice.

For information on the many other loan options we have available, please contact me. I look forward to hearing from you.


Dan Bardenhagen

Private Mortgage Banker
Private Mortgage Banking
NMLSR ID 653667

Wells Fargo Home Mortgage | 34 WAILEA GATEWAY PLACE, A205 | KIHEI, HI 96753
MAC E3627-021
Tel 808-891-6075 | Cell 808-280-6168

Moving Checklist for Buyers
by Daniel Bortz
July 01, 2018
      

1. Turn on utilities
Electric, gas, water—don't assume they'll be on and operational when you arrive. Instead, get all your utilities set up ahead of time.

“Chances are the seller will be turning them off as of the closing date,” says Greg Beckman, an Annapolis, MD, real estate agent.

2. Set up internet and cable service
Plan on having a “Property Brothers” marathon while you’re unpacking? Have your home wired for service before you arrive, advises Julie McDonough, a real estate agent in Southern California.

3. Order an energy audit
One of the best ways to cut your energy bill is to order a home energy audit, says Rachel Foy, a real estate agent in Newton, MA.

An energy audit is a professional assessment of your new home’s overall energy performance. This will show you how to make your house more energy-efficient (think insulating the attic, weatherstripping windows, sealing air leaks in crawl spaces), so it's best to have one done and make related repairs before moving in.

A home energy audit costs, on average, about $215 to $600, but some utility companies will do them for free.

4. Do a deep clean
"It's never easier to do a deep clean than when the house is empty,” Beckman says. A cleaning service costs around $150. Don’t mind cleaning the home yourself? Check out our House Cleaning Guide, with tips on how to clean a kitchen, bedroom, bathroom, and beyond.

5. Change the locks
This is a basic safety measure; however, “it can’t be done until after closing,” says Chris Dossman, a real estate agent in Indianapolis.

6. Test smoke and carbon monoxide detectors
Make sure these are functioning properly to protect your new home from fires and other emergencies. Also, read our recommendation of the best type of smoke detector.

7. Set up the alarm system
If the home already has a security system installed, call the provider to confirm that service is set up, says Jennifer Baxter, associate broker at Re/Max Regency in Suwanee, GA.

8. Tackle major home renovations
The last thing you want to do is have to tiptoe around a construction zone after you move in. So, if you want to repaint the home, resand floors, or make any other renovations, do them in advance.

“These projects are best done when the house is empty and usually don’t happen once the furniture shows up,” says Foy.

One caveat: “You have the right to bring in vendors for quotes, but work cannot start until you own the home,” she adds.

9. Make repairs
Before moving in, Baxter recommends hiring a handyman to do any repairs that the seller didn’t agree to make. Check out our tips on how to hire a great handyman (or woman).

10. Get a home warranty
Imagine waking up one morning to a busted boiler or leaking washer in your brand-new home. A home warranty covers the cost of repairing many home appliances—and basic coverage starts at only about $300, says Shawna Bell of Landmark Home Warranty.

11. Buy fire extinguishers
Get one for every level of your home, make sure you know how to use it, and plan an escape route in the event of a fire.

12. Get to know your new house
Figure out where the circuit breaker box and main water shut-off valve are before moving in, so you know how to turn off the electricity or water in an emergency. Also, consider labeling your home’s electrical panel.

13. Childproof the home
Have kids? Every year, millions of children are hospitalized because of accidents around the home, according to Safe Kids Worldwide. So, before your bundle of joy starts toddling around the house, take steps to fully childproof your new home.

14. Forward your mail
Don’t forget to update your address with the United States Postal Service. (Visit the Official Postal Service Change of Address website.) The postal service charges a $1 fee to verify your identity when changing your address online, so you'll need a credit or debit card.

Note: The postal service will stop forwarding periodicals to your new address 60 days after you move, so alert magazines and newspapers that you’ve moved.

15. Update your billing address
Alert your credit card companies, banks, or any other financial institutions of your new address. Also, if you frequently buy anything from a website, you can avoid a future headache by updating your profile with your new address.

Daniel Bortz is a Realtor in Maryland, Virginia, and Washington, DC. He has written for Money magazine, Entrepreneur magazine, CNNMoney, and more.

The Home Inspection
Brought to you by Brady Spangler of Axia Home Loans
April 12, 2018
      

The Ins and Outs of the Home Inspection.


Here's what you should know about home inspections:

What it is: A home inspection is an independent, third-party evaluation of a home's structure, systems and features. The inspector will look for potential problems or deficiencies on the property.
Why you need it: A proper inspection ensures the home is safe to live in and a good long-term investment for your household.
When it happens: Home inspections generally occur after the seller has accepted your bid but before closing day. This gives you the opportunity to withdraw your offer, should there be any major issues with the property.
What's covered: A home inspection includes the roof, foundation, insulation, appliances, HVAC systems, plumbing, electrical systems and more.
How you're involved: You are not required to be on-site, but it's in your best interest to be there. The inspector can walk you through any defects he or she finds.
The home inspection is designed to protect you, your family and your investment, so choose your inspector carefully. Make sure the home inspector is experienced and licensed and insured where required. And don't forgo an inspection just to save a little cash. If anything, a home inspection report can give you extra leverage in negotiations.

Current Mortgage Rates for Maui County
Brought to you by Dan Bardenhagen of Wells Fargo
April 06, 2018
      

Current Mortgage Rates for MAUI COUNTY, HI
Check out our rates. I've included below a selection of current rates for a few of our many products. I'd be happy to discuss options with you and your client based on their particular needs.

Conforming

Loan Type MI Type Interest Rate APR
5/1 ARM Conforming  4.125% 4.713%
7/1 ARM Conforming  4.250% 4.662%
30-yr fixed Conforming  4.500% 4.518%
VA 30-yr fixed  4.375% 4.497%
15-yr fixed Conforming  4.000% 4.063%

Jumbo

Loan Type MI Type Interest Rate APR
7/1 ARM Jumbo  3.750% 4.411%
30-yr fixed Jumbo  4.250% 4.268%
15-yr fixed Jumbo  4.000% 4.031%
Information displayed is accurate as of 4/6/2018 6:59:44 PM (CT) and is subject to change without notice.

For information on the many other loan options we have available, please contact me. I look forward to hearing from you.


Dan Bardenhagen

Economic Roundup 2018
Brought to you by Rebecca Ross of Elite Mortgage
January 17, 2018
      



INVISIBLE INFLATION

The number of times the Fed boosts rates a quarter-point in 2018 will depend entirely on GDP growth and inflation. If both perk up, expect four hikes, if they both remain weak, expect two. The low and falling unemployment rate suggests that inflationary pressures should build. However, researchers find that declines in the unemployment rate today have only 30% as much influence on inflation rates as they did decades ago.


HALTING HOUSING

While housing starts in October rose 13.7% compared to September, they remain 2.9% below the level of 10/16, and are up just 5.8% YTD. Technically, it's because multifamily activity is down roughly 10% YTD. That's because multifamily activity has returned to its pre-recession level of roughly 400,000 units/year and is very volatile from month-to-month. The key, the continued painfully slow recovery in single-family activity, barely above historical recessionary lows.


LOTSA LABOR

Employment growth was 228,000 in November and is averaging 170,000 jobs since August. The key takeaways: the job market is very strong, and growth is well distributed with solid gains across all education levels! The hurricanes have left no traces, and while wage growth is hardly Bitcoin-esque at just 2.5% Y-o-Y, an increase in the average work week has boosted total wages by a respectable rate of 4.75% since August.


YUCKY YIELDS

The yield spread between 10-yr and 1-yr Treasuries has shrunk from a post-recession peak of 3.4 percentage points to just 0.70 percentage points. The problem is in prior Fed rate rising cycles, the yield on the 10-yr rose as faster growth was expected; now the 10-yr yield is trendless. Moreover, Treasury is exacerbating this by shortening the duration of US debt, and long-term rates in Europe and Japan are microscopic.


SICKLY SAVINGS

The personal savings rate fell to just 3.1% in September, its lowest level since 12/07, the start of the Great Recession. The decline is undoubtedly being caused by record gains in household net worth. As a percent of disposable income, it's 670%, well above the Housing Boom high of 650%. Ever higher bond, equity, housing, and real estate prices are feeding wealth. Should they weaken, growth will, at best, stall.


MARRIAGE MODIFICATION

In 1960, in 14.6% of marriages husbands had more education than wives. The reverse was the case 7.1% of the time. The remaining 78.3% of marriages had spouses of equal education. This imbalance peaked in 1980 when in 23% of marriages husbands were better educated while in 11% the wife was. Now, in 25.3% of marriages the wife is best educated while the reverse occurs 24.5% of the time.

Source: Elliot Eisenberg, PhD., Chief Economist for GraphsandLaughs, LLC, an economic consulting firm serving a variety of clients across the United States. All rights reserved..

Rebecca Ross  President Elite Lending NMLS # 242063

Economic Roundup
Brought to you by Rebecca Ross of Elite Mortgage
December 12, 2017
      

GOOD GDP

The US economy easily shook off the effects of recent hurricanes and GDP in 17Q3 rose by 3.1% following a 3% rise in 17Q2, the best two-quarter performance since mid-2014. That said, Y-o-Y GDP growth is still just 2.3% and inflation remained weak, with the Fed’s preferred measure rising at a rate of just 1.5% in the quarter, while core inflation was up just 1.3%. Good news but no champag

NEBULOUS NUMBERS

October’s 261,000 net new jobs was good, as were upward revisions to August and September totaling 90,000. Unemployment fell to 4.1%, its lowest level since 12/00, the broadest measure of unemployment fell to 7.9%, tops since 12/06, and job growth over the past three months has averaged a solid 162,000. But, wage growth was zero and Y-o-Y wages increases are an anemic 2.4%. Nonetheless, expect a Fed rate increase in December.


LIMITED LABOR

While our economy is humming with 3.1% GDP growth in 17Q2 and 3% growth in 17Q3, these rates are unsustainable. That’s because these rates have required such large increases in employment that the unemployment rate declined from a low 4.5% at the end of March to a staggeringly low 4.2% by the end of September. We could run out of workers without a significant boost in labor productivity.


CONSUMER CONFIDENCE

As Measured by the Conference Board, October consumer confidence came in at 125.9, the highest reading since 12/00. This elevated level is a result of rising equity and home prices and an unemployment rate of just 4.2%, its best level since 2/01. A similar measure put out by the University of Michigan is at its best level since early 2004, and Bloomberg’s Consumer Comfort index is near its post-recession high.


FED FIGURE

For the first time since 1978, a first-term president hasn’t reappointed the incumbent Fed chair. Instead, President Trump will appoint existing Fed governor Powell. He will continue the process of gradual rate rises established by outgoing chair Yellen, but offer a lighter regulatory touch.


CORDRAY QUITS

The first-ever director of the Consumer Finance Protection Bureau (CFPB) Richard Cordray announced he will be leaving the Dodd-Frank Wall Street Reform Act-mandated agency by the end of November. Cordray’s exit opens the door for restructuring to the bureau’s power structure, perhaps allowing Congress to shift power to a commission rather than a single, presidentially-appointed individual. The CFPB has made news with multi-million dollar fines against Wells Fargo, Bank of America and credit reporting agencies TransUnion, Experian and others.


DA VINCI DOLLARS

Last month, the “Salvator Mundi” by Da Vinci sold at auction for $400 million, $450 million including fees. This shatters the prior auction price high of $179 million set in 2015 for Picaso’s “Les Femmes d’Alger”, and the alltime high of $300 million for works by Cezanne at private sales. In 1958, “Salvator Mundi” sold for $125 before it was determined to be a Da Vinci.

Sources: Elliot Eisenberg, PhD., Chief Economist for GraphsandLaughs, LLC, an economic consulting firm serving a
variety of clients across the United States. All rights reserved., Consumer Finance Protection Bureau.

Economic Advisor
Brought to you by Brady Spangler of Axia Home Loans
November 23, 2016
      

Last Week's Economic News in Review
November 23, 2016
Housing starts rocketed to a nine-year high, while retail sales exceeded market expectations and layoffs dropped to their lowest point in 43 years.

Housing Starts

Starts on new housing construction hit their highest point since the height of the housing boom in 2007. Starts on private housing in October shot up 25.5 percent, to reach an annual rate of 1.32 million, according to last week’s joint release from the Census Bureau and the Department of Housing and Urban Development.

Compared to the same period last year, October’s rate for overall housing starts was 23.3 percent higher than October 2015’s rate of 1.07 million. Starts on single-family homes grew 10.7 percent to hit a rate of 869,000.

“Housing starts are being driven higher by improved household growth as the economy promotes further job and income gains,” Nationwide Mutual Insurance Co. Chief Economist David Berson told U.S. News & World Report. “With improved employment and income prospects, millennials are an expanding portion of housing demand as they move out of their parents’ homes — increasingly to form families.”

Construction permits issued for private housing ticked up 0.3 percent in October to an annual rate of 1.22 million, which was 4.6 percent over October 2015’s rate of 1.17 million. Permits for single-family homes grew 2.7 percent in October to a rate of 762,000, which was 2.7 percent higher than September’s 742,000 permits.

Retail Sales

Retail sales for October grew 0.8 percent to hit $465.9 billion, beating marketing expectations of 0.6 percent, and sales for the August-through-October period increased 3.3 percent, the Census Bureau reported last week. Compared annually, October’s sales were 4.3 percent higher than October 2015’s and notably sales in October for non-store retailers (such as online businesses or kiosks) jumped up 12.9 percent over their October 2015 sales.

Key performers were sales for gasoline stations, which grew 2.2 percent; sporting goods, hobby, book and music stores, which increased 1.3 percent; building material and garden stores, which gained 1.1 percent; and food and beverage retailers, which enjoyed a 0.9 percent gain.

“The consumer is in very good shape and is poised to continue to lead the economy forward based on rising wages, low unemployment and clean balance sheets,” Amherst Pierpont Chief Economist Stephen Stanley told the Wall Street Journal.

Initial Jobless Claims

First-time claims filed for unemployment benefits by the recently laid off during the week ending November 12 tumbled to 235,000, a decline of 19,000 claims from the preceding week’s total of 254,000, the Employment and Training Administration reported last week. This is the lowest level for lay-offs since November 24, 1973’s total of 233,000.

The four-week moving average — considered a more stable measure of layoffs — fell to 253,500, a drop of 6,500 claims from the prior week’s average of 260,000.

This marked the 89th straight week of initial jobless claims below 300,000 — a level that economists say indicates a growing job market — and the longest streak since 1970.

Economic Advisor
Brought to you by Brady Spangler of Axia Home Loans
November 09, 2016
      

Last Week's Economic News in Review
November 9, 2016
New home construction bucked a downturn in overall construction, while the monthly unemployment rate was essentially unchanged and layoffs saw a small spike.

Construction

Construction spending in September dipped to an annual rate of $1.15 trillion, which was 0.4 percent below August’s pace of $1.154 trillion, according to the Census Bureau. Compared annually, September’s rate was 0.2 percent below September 2015’s estimate of $1,152.1 billion, marking the first year-over-year drop in five years.

Spending on private construction dipped to an annual rate of $879.7 billion, which was 0.2 percent below the revised August estimate of $881.6 billion. But, residential construction rose to an annual rate of $453.7 billion in September, which was 0.5 percent over the August pace of $451.3 billion. Nonresidential private construction was dropped 1 percent to an annual rate of $426 billion.

So what was the key driver for the overall downward trend? Public construction spending fell 0.9 percent to an annual rate of $270.3 billion.

“There is still plenty of oomph in private demand for construction and growing support for school construction, but public infrastructure investment is crumbling just when it is needed most,” Associated General Contractors of America Chief Economist Ken Simonson told National Mortgage Professional Magazine. “These conflicting trends have left total construction spending nearly flat for the past 15 months.”

Unemployment

The U.S. economy added 161,000 non-farm jobs in October, which kept the unemployment rate at 4.9 percent, with 7.8 Million people out of work, the Bureau of Labor Statistics reported last week. Key sectors that added jobs were healthcare, professional and business services, and financial activities.

The number of Americans involuntarily employed on a part-time basis for economic reasons, such as their hours getting cut or that being the only work they could find, essentially hovered at 5.9 million. The number of people without a job for 27 weeks or longer, referred to as the long-term unemployed, was unchanged at 2 million in October, which represented 25.2 percent of the unemployed population.

Average hourly earnings for all employees on non-farm payrolls grew by 10 cents in October to $25.92, following an 8 cent increase in September. Compared to October 2015, average hourly earnings rose by 2.8 percent.

“We’re increasingly seeing evidence that the labor market is tight enough to put some upward pressure on wages and inflation generally as well,” High Frequency Economics’ Chief U.S. Economist Jim O'Sullivan told the Washington Post. “The message generally from this is that the Fed probably won’t want the unemployment rate to go a lot lower.”

Initial Jobless Claims

First-time claims for unemployment benefits filed during the week ending October 29 hit their highest point in three months, according to last week’s report from the Employment and Training Administration. Initial jobless claims filed during that week hit 265,000, a gain of 7,000 claims from the preceding week’s total of 258,000.

Most economists chalked up the surge partially to Hurricane Matthew, which allowed some employees eligible to claim unemployment benefits after the storm temporarily closed some businesses starting October 8. State-level data did indicate upswings in those states. Others said the rise was a bit of a statistical “reset.”

“The snapback in the number of new filers may be a garden variety makeup for two readings below 250,000, rather than a result driven specifically by the storm,” Amherst Pierpont Securities Economist Stephen Stanley told the Wall Street Journal.

The four-week moving average — considered a more stable measure of layoffs — notched up to 257,750, an upturn of 4,750 claims from the prior week’s average of 253,000. The week was the 87th consecutive week of first-time claims under 300,000, which is a level economists consider indicative of a growing job market. This is the longest such streak since 1970.

Wells Fargo Mortgage rate
Brought to by by Dan Bardenhagen of Wells Fargo Home Loans
November 04, 2016
      

Current Mortgage Rates for MAUI COUNTY, HI
I hope you are having a great day! I've included below a selection of current rates for a few of our many products. I'd be happy to discuss options with you and your client based on their particular needs.

Conforming
Loan Type MI Type Interest Rate APR
5/1 ARM Conforming  2.875% 3.477%
7/1 ARM Conforming  3.000% 3.436%
30-yr fixed Conforming  3.500% 3.525%
VA 30-yr fixed  3.250% 3.348%

Non-Conforming
Loan Type MI Type Interest Rate APR
5/1 ARM Non-Conforming  2.750% 3.410%
7/1 ARM Non-Conforming  2.875% 3.355%
30-yr fixed Non-Conforming  3.500% 3.503%
Information displayed is accurate as of 11/4/2016 5:42:57 PM (CT) and is subject to change without notice.
For information on the many other loan options we have available, please contact me. I look forward to hearing from you.


Dan Bardenhagen

Private Mortgage Banker
Private Mortgage Banking
NMLSR ID 653667

Housing market looks strong thru 2016
November 03, 2016
      

http://www.realtor.com/news/trends/housing-market-chugs-on-after-a-strong-first-half-of-2016/

The Weekly Brief
Brought to you by Brady Spangler of Axia Home Loans
October 19, 2016
      

Things are relatively quiet this morning as markets in China and Germany were closed for national holidays, and many traders in the US are out for Rosh Hashanah. The economic calendar is quite full this week with many key economic releases, capped off by Friday's closely watched non-farm payrolls report.  Don't let the quiet opening to the week fool you, because mortgage pricing is likely to be very volatile this week!

SOURCE: CMPS Institute

Current Mortgage Rates
Brought to by by Dan Bardenhagen of Wells Fargo Home Loans
October 07, 2016
      

Current Mortgage Rates for MAUI COUNTY, HI
I hope you are having a great day! I've included below a selection of current rates for a few of our many products. I'd be happy to discuss options with you and your client based on their particular needs.

Conforming
Loan Type MI Type Interest Rate APR
5/1 ARM Conforming  3.125% 3.626%
7/1 ARM Conforming  3.250% 3.600%
30-yr fixed Conforming  3.500% 3.517%
VA 30-yr fixed  3.250% 3.289%

Non-Conforming
Loan Type MI Type Interest Rate APR
5/1 ARM Non-Conforming  2.750% 3.490%
7/1 ARM Non-Conforming  2.750% 3.371%
30-yr fixed Non-Conforming  3.375% 3.386%
Information displayed is accurate as of 10/7/2016 5:37:04 PM (CT) and is subject to change without notice.
For information on the many other loan options we have available, please contact me. I look forward to hearing from you.


Dan Bardenhagen

Private Mortgage Banker
Private Mortgage Banking
NMLSR ID 653667

Wells Fargo Home Mortgage | 34 WAILEA GATEWAY PLACE, A205 | KIHEI, HI 96753
MAC E3627-021
Tel 808-891-6075 | Cell 808-280-6168

5 Things You Should Know About Interest Rates Now
September 23, 2016
      

Informative article

5 Things you should know about interest rates now

1031 Exchange
September 20, 2016
      

A 1031 exchange is a way to buy and sell investment properties that are of "like-kind" and defer any capital gains for tax purposes.  Below is a list of things that can often go wrong in a 1031 exchange.

1. Failure to get a replacement property with equal or more debt.

2. The term, "like-kind" is rather vague.  You do not need to replace a condo with another condo, you can exchange your condo for a single family home or vacant lot if you wish.

3. Exchanges were created for investment properties so do not move right into your newly exchanged property, be patient and let it build up a rental history. 

4. The most important thing is to always consult with your CPA and attorney to see if using an exchange will even make sense for you.

5. Do not wait until after closing to call IPX 1031 Exchange Services or it will be too late for them to assist you with the exchange.  They are full service and will help you throughout the exchange process.

6.  There are 2 important deadlines not to be missed when doing an exchange.  You have 45 days after closing to identify the new property you would like to use for the exchange.  Then after that you have 135 days to close on that property.

What do condo Fees Cover?
September 16, 2016
      

Informative article

What Do Condo Fees Cover?

Current Mortgage Rates
Brought to by by Dan Bardenhagen of Wells Fargo Home Loans
September 02, 2016
      

Current Mortgage Rates for MAUI COUNTY, HI
I hope you are having a great day! I've included below a selection of current rates for a few of our many products. I'd be happy to discuss options with you and your client based on their particular needs.

Conforming
Loan Type MI Type Interest Rate APR
5/1 ARM Conforming  3.125% 3.546%
30-yr fixed Conforming  3.500% 3.515%
VA 30-yr fixed  3.125% 3.239%
15-yr fixed Conforming  3.000% 3.030%

Non-Conforming
Loan Type MI Type Interest Rate APR
7/1 ARM Non-Conforming  2.625% 3.248%
30-yr fixed Non-Conforming  3.375% 3.378%
15-yr fixed Non-Conforming  3.125% 3.144%
Information displayed is accurate as of 9/2/2016 9:43:56 PM (CT) and is subject to change without notice.
For information on the many other loan options we have available, please contact me. I look forward to hearing from you.


Dan Bardenhagen

Private Mortgage Banker
Private Mortgage Banking
NMLSR ID 653667

The Weekly Brief
Brought to you by Brady Spangler of Axia Home Loans
August 29, 2016
      

Mortgage pricing got worse last week after Fed Chair Janet Yellen made some comments that placed another Fed rate hike firmly on the table, perhaps as soon as their September meeting in three weeks. This week, all eyes will be on Friday's non-farm payrolls report. In the meantime, the market will be digesting a full docket of economic releases, including Wednesday's ADP Employment numbers.

SOURCE: CMPS Institute

The Weekly Brief
Brought to you by Brady Spangler of Axia Home Loans
August 22, 2016
      

Later this week on Friday, markets will be watching Janet Yellen's speech at the Fed's annual Economic Policy Symposium in Jackson Hole, Wyoming. Investors are anxiously awaiting to see if a September rate hike is in the cards or if the central bank will wait until December to make a move. Recent speeches by Fed governors and the minutes from last month's Fed meeting have highlighted a lack of clear direction on the part of the Fed.  In addition, markets have an active week of economic data to digest including home sales, GDP and consumer sentiment.

SOURCE: CMPS Institute

Current Mortgage Rates
Brought to by by Dan Bardenhagen of Wells Fargo Home Loans
August 19, 2016
      

Current Mortgage Rates for MAUI COUNTY, HI
I hope you are having a great day! I've included below a selection of current rates for a few of our many products. I'd be happy to discuss options with you and your client based on their particular needs.

Conforming
Loan Type MI Type Interest Rate APR
5/1 ARM Conforming  3.125% 3.544%
30-yr fixed Conforming  3.500% 3.515%
FHA 30-yr fixed MIP 3.375% 4.064%
VA 30-yr fixed  3.000% 3.113%
15-yr fixed Conforming  2.875% 2.911%

Non-Conforming
Loan Type MI Type Interest Rate APR
7/1 ARM Non-Conforming  2.750% 3.298%
30-yr fixed Non-Conforming  3.375% 3.386%
15-yr fixed Non-Conforming  3.125% 3.155%
Information displayed is accurate as of 8/19/2016 6:11:21 PM (CT) and is subject to change without notice.
For information on the many other loan options we have available, please contact me. I look forward to hearing from you.


Dan Bardenhagen

Private Mortgage Banker
Private Mortgage Banking
NMLSR ID 653667

5 Things renters should know about owning
August 11, 2016
      

5 Things Renters Should Know About Owning

DAILY REAL ESTATE NEWS | THURSDAY, AUGUST 11, 2016
For renters who aspire to be home owners, transitioning from an apartment to a house requires a shift in their thinking that they may not be prepared to make. The financial changes that come with owning, the need to consider planting longer-term roots in a neighborhood, and new neighborhood rules are things renters may not be thinking about enough.

Moving can already be one of the most stressful times in a person’s life, but it may be doubly so for a new home owner. In order to be their most reliable resource, using your knowledge and experience to provide them with guidance, share these helpful nuggets of information with your clients so their transition from renter to owner can be as smooth as possible.

They need to understand how their financial investment is changing. Renters may see an increase in their monthly rent every lease term, but they don’t see exactly where it goes — toward property taxes and insurance, even “luxuries” such as trash pickup. As home owners, they don’t have a landlord who handles all those details, so they need to be ready to juggle the financial responsibilities of home ownership. Have an open conversation with your clients about these changes and the importance of budgeting to make sure they make smart financial decisions during this process.

They need to be happy with their location for the long-term. As a renter, you can bounce around from home to home every year if you want. But when you own a home, you have to stay put — unless you plan on renting it out, which most home owners don’t. Impress upon your client that location is going to play a much more significant role in their future, so they should think about evaluating school districts, access to amenities, and commute time now as they search for their next home.

They may need to abide by new rules. Renters don’t think about possible homeowner association rules they may be governed by, such as trash pickup rules or any curfews or rules pertaining to animals. Make sure to get all the information on neighborhood rules and associations to help your client understand what their new obligations will be.

They’ll need to get into the mindset of an owner. Life as your client knows it is about to change. Once your client purchases a new home, they will no longer have a landlord to tend to their many needs, including lawn care and plumbing. The best way you can help them as their real estate agent is to provide them with contact information for local industry experts. They will eventually need certified specialists ranging from HVAC companies to carpenters to electricians. Let them know they don’t have to do everything themselves.

They should know their neighbors can affect their value. Renters don’t care who their neighbors are as long as they’re quiet (enough). But your client is now going to want to know whether their new neighbors are renters or home owners. This knowledge can help your clients gauge current and future home value in the neighborhood. If the neighborhood consists mostly of rental properties, it is likely a home owner will lose money on their house in the future. Renters do not always feel responsible for maintaining their properties the way home owners do. Property value comes down to curb appeal. Less-appealing neighborhoods often have more-appealing prices, which is not always good for buyers and home owners.

Source: Rob Rimeris is owner of EverSafe Moving Co. in Philadelphia. EverSafe is a five-star, full-service company that offers affordable moving and storage services.

http://realtormag.realtor.org/daily-news/2016/08/11/5-things-renters-should-know-about-owning?om_rid=AALVsK&om_mid=_BXthPGB9RSTgPN&om_ntype=NARWeekly

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