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

09/8/13

 
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 kevin@gcipnaples.com.

Warmest Regards,

Kevin Aizenshtat
Realtor
239-777-1451
kevin@gcipnaples.com



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