Ed's Blog

Rejoice "non-conforming" borrowers!

In a great story in the mortgage market that has gone largely overlooked, we're finally seeing lenders drop rates on true "jumbo" loans. It's about time!

Jumbo rate loans are starting to fall into line with where they "should" be. This is especially true of five-year fixed rate jumbo loans. Most of our jumbo five year loans are in the fours, but with the right circumstances sometimes we can even arrange 5 year fixed rate loans in the high threes. And by the way, 30 year fixed-rate jumbos have now moved into the mid-to low fives range.

This is finally a great time to refinance if you have a jumbo loan. And it's a terrific time for move up homebuyers to get a great deal on a house and lock in a low interest rate.