Question:

How big are the 30 year fixed jumbo mortgage rates?

Answer:

The 30 year fixed jumbo mortgage rates are higher than the conforming 30 year fixed rate mortgage rates. When there is a crisis in the mortgage industry, borrowers living in high cost areas and people buying expensive properties (as a residence at the ocean front) are being offered much higher rates.

While normally the spread between a conventional 30 year fixed rate mortgage and a jumbo loan for the same term is around .3%, when market is tight the spread can easily go up to 1% in less than a month's time.

Even when the conventional 30 year fixed rate mortgage has falling rates, jumbo loan rates keep going up as lenders require greater markup for exotic loans.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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