Just off the wire, Jumbo Mtg rate increase.

[SHELLY]

I thought the cutoff for jumbo was $417,000?

Either way, I think there will be alot of fancy footwork to beat the "magic number". :roll:

The $475K guys will be moving down into the $417,000 slot and everyone below that will schooch down from there. The $476K+ guys are essentially skrewed anyway.

.

 

[SHELLY]

Having at least enough to pay for 1/5 of what you're buying............why does that NOT sound unreasonable to me?

Because then you would be playing with "Your" money and not the lender's...the more of "your" money put into the deal, the less leverage you have---and leverage is everything---:shock: well, leverage was everything until folks discovered that it can work against them too. Imagine that. :roll:

Consider yourself "Risk Averse"

.

 

[NewUrbanGirl]

I bet the market formerly known as jumbo will now become the market that splits mortgages into pieces, with none above jumbo levels. The first will be a lower rate, the second will be higher, but still below the Wells Fargo jumbo rate.

 

[Mango]

Some possible interesting developments.....................

http://online.barrons.com/article/SB118641816712389361.html?mod=googlenews_barrons

 

[Capricious]

The operative line from the above referenced article:


"...All of which suggests the mortgage crisis is only beginning, notwithstanding Monday's big stock-market move..."




Just my opinion.



And I always have one.

 

[Mango]

The operative line from the above referenced article:


"...All of which suggests the mortgage crisis is only beginning, notwithstanding Monday's big stock-market move..."




Just my opinion.



And I always have one.

and that is?

 

[Smiling JOe]

20% Down Payment??

How many people in the US know what a "Down Payment" is??


.

That might have been the case two years ago, but times, they are a changin'.