Jumbo Mortgages Get Cheaper Than Other Mortgages:
In an unusual move, jumbo mortgages are becoming a bigger bargain over conforming loans.
Lenders are offering jumbo mortgages at lower rates -- more than a quarter of a percentage point -- than conforming loans that are backed by Fannie Mae and Freddie Mac, Generally, banks charge higher rates on jumbo mortgages, typically about a quarter of a percentage point more than conforming loans, according to the Mortgage Bankers Association.
But recently that has reversed.
But recently that has reversed.
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