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Wednesday, March 24, 2010

The Return of Jumbos

In addition to outstanding regular (up to $417,000) mortgage rates currently running about 4.875%, the banks are beginning to come back to JUMBO (over $417,000 up to 1.5M)  mortgages with quite good rates.  We are seeing 30 year fixed jumbos at about 5.625% and jumbo ARMS at 4.875% (30 year loan with the rate fixed for the first 5 years)!! 

Back to regular rates,15 years are running about 4.125%.  Again these rates will creep up starting soon.

My wine pick for this broadcast is Marietta Old Vine Red, Lot 51. (at the Liquor Barn)

Cheers, Guy.
Posted by Guy M. Petit-Clerc at 2:24 PM