Hawaii Mortgage Rates Drop Again

How much lower can home loan rates go in Hawaii?

The biggest banks in the state have gone lower still on their fixed-rate home mortgages - 5.625 percent - the Honolulu Board of Realtors reported Friday.

First Hawaiian Bank and Bank of Hawaii are joined at that level by Territorial Savings Bank and Wells Fargo Home Mortgage, a Mainland mortgage lender that does a lot of business in Hawaii.

Still at 5.75 percent are American Savings Bank, Central Pacific Bank, Finance Factors and Hawaii National Bank. This is still an historically low Hawaii mortgage rate level and in some cases makes up for price increases of recent years.

For 15-year notes, Territorial quoted 5.125 percent this week and the biggest local banks were at 5.25 percent.