Total Mortgage Services, a Connecticut-based mortgage lender/broker, sees a comeback in the jumbo mortgage market. The firm said because of a significant improvement in both competitive pricing and market liquidity for jumbo loans, it’s rate for a 30-year fixed jumbo mortgage is down to 4.9% for a loan up to $729,000. Jonah Green, head of mortgage analytics at 1010 data, recently told HousingWire that jumbo prime loans are mimicking the performance seen by the subprime market during the housing bubble, which could be driving down rates. Even still, president of TMS, John Walsh, is optimistic about the market. “Although underwriting standards remain rigorous, we are seeing an increase in the number of borrowers with strong credit qualifying for a more affordable jumbo mortgage with very attractive terms,” said Walsh. “Many borrowers are taking advantage of this opportunity to lock-in low rates.” Jumbo mortgage rates are typically higher because of the size of the loan. Jumbo loans are known as non-conforming loans because they usually exceed the loan limits set by the government sponsored enterprises — $729,750. Total Mortgage Services rate is 3.6% for a 15- year fixed jumbo rate , 3.3% for a 5-year adjustable rate and 2.9% for a one-year adjustable rate. TMS is a direct mortgage lender and mortgage broker based in Milford, Conn. Since the firm’s launch in 1997, TMS has funded more than $6 billion mortgage loans. Write to Christine Ricciardi.

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