Jumbo Loan Rates More Favorable Than Conventional for the First Time Ever


For the first time ever interest rates for Jumbo Mortgages have dropped below the rates for conforming loans.

The average interest rate for a 30-year fixed-rate conforming mortgage last week was 4.73% while the average for a jumbo 30-year fixed rate mortgage was 4.71%, according to the Mortgage Bankers Association.

Jumbo mortgages are those that exceed the $417,000 limit to qualify for the backing by mortgage giants Freddie Mac and Fannie Mae. The limit may be lifted to $625,000 in some high-cost markets, such as New York and Washington.

Posted by Kevin Aizenshtat, Realtor with Gulf Coast International Properties. Kevin can be reached at 239-777-1451 or by email at [email protected].

Warmest Regards,

Kevin Aizenshtat
[email protected]


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