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Jumbo Loans

Low jumbo mortgage rates are here now, but may not be for long. Miami Mortgage company Priority Lending daily survey of wholesale and direct lenders, which can be accessed right on this page, show that jumbo 30 year fixed mortgage rates have decreased and are at 5.000% with 0.7 to 1% origination point. With the conforming loan limit coming down to previous levels in October of this year, these low jumbo mortgage rates may not linger for much longer. Many homes falling within the current conforming loan limit, which is $417,000 to $729,750, will again fall into the jumbo mortgage loan category, which can ultimately send jumbo mortgage rates higher.

Home prices in every category, including high end homes, have continued to see a decrease in prices. Right now, borrowers interested in these more expensive homes have everything in their favor. Lower jumbo mortgage rates plus lower home prices equal more home for your money. With the real estate recovery in slow motion, high end home buyers have the ball in their court when looking for a home to purchase. With excellent credit and the means to receive lender approval, borrowers can lock these lowest jumbo mortgage rates with 0.7 to 1% origination fee.

Currently below 5%, jumbo 15 year fixed mortgage rates are at 4.500%. Many borrowers favor jumbo 15 year fixed mortgage loans because of the short mortgage period and the amount of mortgage interest that is saved. Often, when comparing mortgage terms and mortgage payments, the difference between the two is not enough to take the longer mortgage term.

Low jumbo 5/1 adjustable mortgage rates are at 3.625%. This current jumbo ARM rate is not much above the FHA 5/1 ARM loan rate currently at 3.375%. For borrowers who have their finances in order and are not worried about taking risks, this is another low jumbo mortgage rate option. The jumbo 5/1 ARM is also is an alternative for those who know they will not be staying in the home for a long period of time.

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