Current mortgage rates are down and lower than they were seven days ago. Rates are lower than they were in early 2025, when the average 30-year fixed-rate mortgage reached above 7%. But rates are still relatively high as fears around stubborn inflation have kept the Federal Reserve from lowering its benchmark rate so far this year.

The cheapest mortgage rates on the market could reach 3.5 per cent or lower next year, according to experts. The lowest rates on the market at the moment are currently between 3.7 and 3.8 per cent, and go to households who have big deposits or equity in their home.

For the second consecutive month, home prices on Oahu have dropped — only by a few percentage points. Even though the housing prices are the most expensive in the country, experts say it’s still a good time to make a move.