Why the Jumbo Mortgage Market Has Gone Dry
Submitted by Cindy Daniels (bestcashcow.com)
It's becoming harder and harder to get a jumbo mortgage. Here's why.

Compare the best CD rates, the best money market rates, the best savings rates, mortgage rates, home equity rates, auto loan rates and more - as well as find financial information that can help you make better decisions with your money.
Investing, Stocks, Income, Dividends, Value, Buffett, Passive, Retirements, Economy, Dividend, Retirement, Bank, Banks, Money, Recession, Stock, Stock market, Market, Personal finance, Investment, Inflation, Savings, Credit, Checking, Interest rates.
Related Tags: Mortgages, Real estate, Housing, Mortgage, Loans, Bank of america, Financial crisis, Housing bubble.
Jumbo mortgages became more expensive and harder to come by as the nation's credit crisis deepened. That might be starting to change. One example provided by the article is Bank of America which...
It's becoming harder and harder to get a jumbo mortgage. Here's why.
If you are planning to buy a home and take out a mortgage $417,000 or over, you might be in trouble. The rates on these mortgages are climbing fast.
In Massachusetts even borrowers with good credit are having trouble getting a jumbo mortgage. The credit crisis seems to have spread beyond just the sub prime market.
| Page 1 of 1 |
|
Type
|
Top APY/Rate
|
Institution
|
|
2.25%
|
Everbank
|
|
|
0.35%
|
Flex Funds
|
|
|
1.25%
|
Country Bank for Savings
|
|
|
1.10%
|
TotalBank
|
|
|
2.00%
|
First City Bank
|
|
|
2.15%
|
USAA Federal Savings Bank
|
|
|
2.30%
|
Atlantic Coast Bank / First City Bank
|
|
|
2.81%
|
USAA Federal Savings Bank
|
|
3.01% |
USAA Federal Savings Bank |
|
|
3.41%
|
USAA Federal Savings Bank
|
|
|
3.36%
|
US Treasury
|
|
4.30% |
Royal Bank of Missouri |
|
2.00% |
Alliant CU |
|
1.51% |
Wings Financial CU |
|
|
1.76%
|
Wings Financial CU
|
|
|
2.10%
|
Alliant CU
|
|
|
2.53%
|
Wings Financial CU
|
|
|
3.03%
|
Wings Financial CU
|
|
|
0.09%
|
Various brokerages
|
|
|
0.19%
|
Various brokerages
|
|
|
0.92%
|
Various brokerages
|
|
|
2.45%
|
Various brokerages
|
|
|
3.77%
|
Various brokerages
|
See more product and rate information