Mortgage rates are at historic lows .. about the lowest they’ve been in forty years.
And so many homeowners have been looking to refinance.
And so many homeowners have been looking to refinance.
In just the past month .. Bank of Hawaii has seen its application volume more than double.
"A lot of customers are coming to us primarily to reduce their mortgage rate. and some are looking to maybe shorten their terms, from a 30 year loan to a 15 year loan, by doing that they shorten their payments over time and save thousands of dollars," says Carol Marx, Bank of Hawaii Senior Vice President.
You can now get a 30-year fixed rate loan for under four percent .. and a 15-year loan for under three percent.
Bank of Hawaii also estimates that a person with a $350,000 dollar 30-year loan could save more than $83,000 dollars by refinancing.
See the original article at: KHON2 Developing Stories
