Jumbo Mortgage Loan Spreads in Decline to Secular Low

Rate spreads between 30-year conventional agency mortgages and jumbo mortgage loans have declined again. According to data provided by Banxquote, the spread is currently at .76% , down from .80 last week, .85% last month, and a whopping 1.82%. The current spread is at its lowest point since the credit crisis began. The National Average for 30-year fixed rate jumbo loans currently stands at 5.77%. The 15-year fixed rate is at 5.22% nationally.

Borrowers considering refinancing their current jumbo mortgage from an adjustable rate loan to a fixed rate mortgage should plan to do so as soon as possible as inflationary pressures appear to be around the corner.

Check our current jumbo mortgage rates in Texas at http://www.hlstx.com/TexasMortgageRates.