August 30th, 2011 11:58 PM by Scott Bray
Rates for Jumbo loans (loans over $417,000) are finally back to the competitve interest rate landscape. For years the rates on these higher balance loans were some 2-3% higher than their conforming balance (loans up to $417,000) siblings which has been unheard of over the last 20 years. Usually over the last 20 years Jumbo loans were usually higher in rate say by .25% - .50% higher because of their higher loan balances than conforming loans. With more money at risk, banks demanded higher rates. Now finally this year rates has returned to their former greatness & Jumbo rates are not being quoted the best in decades.
If you have a home with a Jumbo mortgage that would like to take advantage of these ultra attractive rates, please feel free to call us at the office Monday - Sunday & ask to speak to Scott, Allan or Bentley. We would be happy to help you save hundreds monthly or hundreds of thousands in interest over the life of the loan in interest.
You can reach us at the office today at (321) 777-7277!