Articles Recently Tagged: Jumbo Loans

(9 posts)

Lending Standards Loosening, More Jumbo ARMs In The Market

The availability of mortgage credit is increasing, driven by a rise in the number of jumbo Adjustable Rate Mortgage programs in the market, according to the Mortgage Bankers Association’s latest Mortgage Credit Availability Index. In addition, minimum credit scores and maximum loan-to-value ratios for FHA and VA loans have been loosened while the availability of Read More »

Discount For Going Big With A Jumbo Loan Has Disappeared

Having dropped to a six-month low last week, the average rate for a conforming 30-year mortgage has ticked down one more basis point to 4.20 percent, 38 basis points below the three-year high rate of 4.58 percent recorded this past August. At the same time, Wells Fargo is now advertising a rate of 4.125 percent Read More »

Mortgage Rates Tick Down, Demand Remains Down As Well

The average rate for a conforming 30-year mortgage ticked down from 4.41 to 4.34 percent over the past week and is 24 basis points below the three-year high rate of 4.58 percent recorded this past August. Having averaged 6.67 percent since 1990, the average rate for a 30-year fixed mortgage was 3.43 percent at this Read More »

Mortgage Rates Move Up As Expected

Mortgage Rates Move Up As Expected

As expected, the average rate for a conforming 30-year mortgage ticked up from 4.32 to 4.40 percent over the past week. The current 30-year rate is within 18 basis points of the 34-month high rate of 4.58 percent recorded this past August. Having averaged 6.67 percent since 1990, the average rate for a 30-year fixed Read More »

Fixed Mortgage Rates Tick Up, Jumbos Remain Relatively Cheap

Fixed Mortgage Rates Tick Up, Jumbos Remain Relatively Cheap

The average rate for a conforming 30-year mortgage ticked up from 4.33 to 4.37 percent over the past week and is within 21 basis points of the 33-month high rate of 4.58 percent recorded this past August. The average rate for a 30-year fixed mortgage was 3.51 percent at this time last year while the Read More »

It’s Cheaper To Borrow More, Not Less, This Week

Having ticked down to 4.29 percent at the begining of July, last week the average rate for a 30-year fixed mortgage ticked up to 4.51 percent for conforming loans on speculation that the Federal Reserve will reduce future bond purchases following June’s strong employment report. That being said, while the majority of the Federal Open Read More »

Loan Limits Set To Fall From $729,750 To $625,000 In San Francisco

As we reported two weeks ago: While industry groups furiously lobby, it’s now t-minus two weeks until the super/jumbo conforming loan limits that provide for federally backed mortgages up to $729,750 in high cost areas like San Francisco are set to expire on September 30. As we first reported two weeks ago, it would appear Read More »

More Mortgage “Mumbo” Jumbo: Serious Delinquencies Increase

“U.S. prime jumbo mortgages at least 60 days late backing securities reached 9.6 percent in January from 9.2 percent in December, the 32nd straight increase for “serious delinquencies”… share of borrowers current the previous month and that then turned delinquent fell to 1.2 percent in the month covered by January bond reports, down from Read More »

Three Cheers Quotes For Bank Of America’s New Jumbo Loan Program

“Bank of America, the country’s largest mortgage lender, is rolling out a large program to finance loans between about $730,000 and $1.5 million, with fixed 30-year rates starting in the upper 5% range. The loans will be available through the bank’s retail network and through its Countrywide Home Loans subsidiary.” “Bank of America quotes a Read More »