Having ticked down to 4.31 percent from 4.51 percent three weeks ago, the average rate for a conforming 30-year mortgage ticked back up to 4.39 percent last week as rates seesaw on parsed words and speculation as to when the Fed will end their commitment to the bond buying program which was engineered to keep rates low.
At the same time, while the advertised rate for a conforming 30-year loan at Wells Fargo has ticked back down to 4.5 percent, the rate for a Jumbo 30-year loan of over $625,500 in San Francisco has dropped to 4.375 percent, maintaining a discount of 0.125 percentage points versus a historical premium for the non-conforming larger loans.
∙ It’s Cheaper To Borrow More, Not Less, This Week [SocketSite]
∙ Mortgage Rates Seesaw [Freddie Mac]
∙ Premium For Going Big Is On The Decline, Cheaper In Some Cases [SocketSite]