
It appears that mortgage rates are settling down, but there's a notable break between traditional 30-yr. fixed loans and jumbos, which are most common in MB.
One month ago, in "Rates Spiking Again?," we took note of a recent uptick in 30-yr. fixed loan rates, and noted the fears of one local realtor that the rate…

It appears that mortgage rates are settling down, but there's a notable break between traditional 30-yr. fixed loans and jumbos, which are most common in MB.
One month ago, in "
Rates Spiking Again?," we took note of a recent uptick in 30-yr. fixed loan rates, and noted the fears of one local realtor that the rate increases could continue.
Today's headlines include "
Mortgage Rates Fall, 1st Time Since February" (via CNN Money). However, as the first graph here shows (via Bankrate.com) – on a short, 3-month time scale – jumbos are remaining stuck in the lofty territory of late February. (Note: We created these graphs using
Bankrate's free tool.)

The second graph shows two jumbo products. The green line is the same 30-yr. fixed as in the first graph, while the blue line is a 5/1 ARM with interest-only payments. The ARM rates seem to have risen significantly from the late-February peak.
Of course, these graphs provide only an illusion of hard data. The data are drawn from lots of sources and there is a lot of variation by region and by lender.
We also have yet to see the effect of higher conforming-loan limits (about $730k) working through the system – redefining what a "jumbo" loan is. Finally, knowing what rates are generally doesn't tell you whether there are willing lenders and whether buyers can meet increasingly rigid criteria.
We're curious what buyers and pros are experiencing right now in the local market.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 23rd, 2023 at 2:01pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.