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ALIOMANU SHORES US average mortgage rates flat to higher; 30-year 4.94 pct. ASSOCIATED PRESS WASHINGTON — U.S. long-term mortgage rates were steady to slightly up last week, at their highest levels in nearly eight years and dampening home sales. Mortgage buyer Freddie Mac said last Thursday the average rate on a 30-year, fixed-rate mortgage was unchanged from last week at 4.94 percent. That’s the highest level for the benchmark rate since February 2011. A year ago the rate stood at 3.95 percent. The average rate on a 15-year, fixed-rate loan rose to 4.36 percent from 4.33 percent last week. Anxiety over rising interest rates, reflecting strength in the economy, and expectations of additional rate increases by the Federal Reserve have roiled financial markets in recent weeks and spilled over into the housing market. The higher home borrowing rates have kept many potential buyers on the sidelines. As the financial markets continued to gyrate, a turbulent day of trading on Wall Street ended last Wednesday with a fifth consecutive loss for the benchmark S&P 500 index. It fell 20.60 points, or 0.8 percent, to 2,701.58. Mortgage rates have risen along with the yield on the key 10-year Treasury note, which has been propelled higher in the past year by indications of quickening economic growth, expected interest rate increases and potentially higher inflation. The yield on the 10-year note was 3.12 percent Wednesday, down from 3.23 percent last week but still far above 2.33 percent a year ago. As bond prices rose with traders pulled toward lower-risk assets, the rate on the 10-year note declined further to 3.09 percent Thursday morning. To calculate average mortgage rates, Freddie Mac surveys lenders across the country between Monday and Wednesday each week. The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. The average fee on 30-year fixed-rate mortgages was unchanged from last week at 0.5 point. The fee on 15-year mortgages fell to 0.4 point from 0.5 point last week. The average rate for five-year adjustable-rate mortgages held steady at 4.14 percent. The fee remained at 0.3 point.
Pristine property, just a short stroll from the ocean 4953 Aliomanu Road at Aliomanu Shores is a newer feature-rich custom “Smart Home,” designed and created utilizing the latest in building practices and materials. The thoughtful layout of over 3,000 sq.ft. includes a spacious covered Lanai, central Living Area, Gourmand Kitchen, three Bedroom Suites, Office, Game Room, Pantry and large Den all on a single level. Some of the many features of
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this well thought-out setting include a 30-panel Reverse Metering Photovoltaic System, Metal Framing throughout, Aluminum Shingle Roof, LED Lighting, Quartz Counters and Large Attic Storage Space and an oversize Garage with workshop. The pristine property is located at the end of Aliomanu Road within an ocean-centric cul-de-sac with a short stroll to Aliomanu Beach access.
The 1/2 acre setting with fruit trees is spacious enough, but low maintenance at the same time. This forward-thinking property is best suited for the Buyer who appreciates an obsession with detail, quality materials and lasting design. As a further incentive - it’s priced below the County of Kauai Assessed Value. This substantial property is offered at $1,675,000 .
For additional information, please contact me, Sean Ahearn at 808.652.6600 or sean@luckykauai. com. Thank you.