We’ve heard from our sources on the Street that Fannie Mae’s decision to price so-called “jumbo conforming” mortgages in-line with existing conforming product last week is having an effect, with the $417,000 to $729,500 mortgages finally starting to move.
We asked one of our sources in the primary market what sort of rates were out there — who manages the mortgage operations at a very large home builder — and we were told the following was par for last Friday:
Agency Jumbo 6.000% at 0 points
Jumbo 6.250% at 0 points
Or
Conforming 5.375% at 1 point
Agency Jumbo 5.750% at 1 point
Jumbo 6.00% at 1 point
Right about where we’d expect, from our perspective. If you’re an originator, and you’re starting to see “jumbo conforming” loans move, be sure to let us know about it. Send an email to tips@housingwire.com.
