I Loan Hawaii

Well, if you have been following our blog and what we think the mortgage rates are going to do you will love this new proposed stimulus idea to get the U.S. housing back up on its feet.

The Treasury Secretary Henry Paulson is considering having the mortgage rates come down to rates as low as 4.5% for some mortgages. However this plan is only preliminary and it could change.

See link to read more http://www.bloomberg.com/apps/news?pid=20601213&sid=aElD2EJR0B2k&refer=home

We had written an earlier blogging piece saying we were thinking this was going to happen and we have seen rates fall to lows that we had not seen since 2003. For folks who fit in a nice package meaning being able to show your documented income, loan to values that are below 75% , and just doing a rate and term refinance on your owner occupied home rates were as low as 4.875% staying in the conforming loan limits.

With the upcoming new President Elect Obama we are looking to see him help out our housing markets with his first 100 days in office. Bringing the rates down will allow folks to make this a fiscal sense to get out of any ARMS or interest only loans and go into a 30 year fixed mortgage that will benefit them in the long run, give everyone a sense of some stability in their lives and realizing paying down their principal can help them later on down the road.`