Thursday, March 4, 2010
The jumbo loan market has been melting and this makes it easier for the move-up buyers to borrow. Earlier the jumbo loan rates of more than $729,750 in highest priced markets rose throughout the financial crisis and lending standards tightened to the point where borrowers were not able to refinance or get a new loan.
According to rate tracker Informa Research Services, the average interest rate on an aged fixed rate jumbo fell to 5.79 percent recently. Moreover, rates are even lower on hybrid adjustables.
Fannie Mae, Freddie Mac, and the Federal Housing Administration are no longer insuring the banks and the availability of the jumbo loan implies that the banks are feeling more confident.
Fannie Mae, Freddie Mac, and the Federal Housing Administration are no longer insuring the banks and the availability of the jumbo loan implies that the banks are feeling more confident.



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