Some highlights from 2014: For a five-week stretch between August and September,
jumbo
rates were lower than those for comparable conforming mortgages. Many
banks and credit unions began offering more jumbo options, some with
down payments less than 20% and no private mortgage insurance
requirements. Jumbo mortgages have loan amounts higher than the limits for government-backed loans. Competitive housing markets in some areas fueled a rise in
first-time homebuyers who took out jumbo mortgages.“The jumbo share of the market was much more purchase-driven in 2014,” read more.
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