YOWZA-- Jumbo Mortgage rate hits 9.176% (loan, interest rate, mortgage rates, refinance) - Mortgages -Lenders, loans, financing, rates, foreclosures, short-sales, brokers, credit score, deed, lien, refinancing, borrowers - City-Data Forum

cohdane · 09-23-2008, 05:02 PM

Wells Fargo has raised Jumbo rates a bit here:

https://www.wellsfargo.com/mortgage/rates/

Is this just their problem, or a sign of things to come? Maybe it has something to do with this:

Moody's reviewing jumbo mortgage securities as loan defaults soar - Los Angeles Times

A dark day in McMansion Land.

wileynj · 09-23-2008, 05:53 PM

Ouch! Is this just wells or are all the lenders following suit? If so..this will kill the market in NJ as it all JUMBO!

HappyTexan · 09-23-2008, 10:02 PM

Average jumbo 30 yr fixed is over 7%

Mortgage Rates Loan Compare Interest Rate Refinance Loans | Adjustable Rate Mortgage | Mortage

scuba steve · 09-24-2008, 07:09 AM

Quote:

Originally Posted by wileynj

Ouch! Is this just wells or are all the lenders following suit? If so..this will kill the market in NJ as it all JUMBO!

It's like that in the northwest too. Forget mcmansions, the average price back over there is somewhere in the $400s.

Humanoid · 09-25-2008, 07:23 AM

When a company raises their interest rate much beyond the average, its there way of saying "We don't want to issue these loads, but we don't want to remove the option".