This is SO unusual!! Jumbo Loan interest rates are LOWER than traditional conventional loans in the Ogden and surrounding area. Historically, interest rates for Jumbo Loans have always been more than traditional loans rates because the risk is higher on a more expensive home. But now, with the traditional interest rates increasing, Jumbo mortgages are more attractive to investors, and the Lenders are rewarding their Jumbo Loan customers with lower interest rates.
According to Housingwire.com, “A combination of interest rate volatility, government policy and banks flush with cash has made jumbo mortgages more attractive than conforming loans. As The Wall Street Journal explains:
Executives say the inversion in the so-called spread, or difference, between jumbo and conforming loans is unprecedented. “In my 30-year career, I’ve never seen nonconforming loans priced below conforming loans,” said Brad Blackwell, executive vice president of Wells Fargo Home Mortgage.”
If you’re thinking about a Luxury Home in the Northern Utah area, now is the time – Jumbo Loan interest rates are low now, but that may not always be the case. Have questions about financing? Click here! OR call us today for more details and how we can find your dream home today!!
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