Rates on Jumbo Mortgages finally Down!

Rates for Jumbo mortgages (financing over 417K) have finally dropped to about 7%, which is great; last week they were hovering near 8%. This is great news for those who are trying to sell homes over 450K.

Additionally, Conforming financing is down to 6.5%. If a Long listing is purchased and the purchaser users Long Mortgage, the first year rate will be one percent less; hence will start at 5.5% for Conforming and 6% for Jumbo.

Long Realty wants to give our Sellers the edge during this transitional market.

This entry was posted on August 24, 2007 at 9:27 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.

| Print