‘Jumbo’ Mortgage Rates Fall Below Traditional Ones

This news reported by the Wall Street Journal could bring short-term benefits to the high-end market here in the DC Metro area.

As banks compete for affluent borrowers, an odd trend has emerged in the mortgage market: rates on loans for pricey homes — “jumbo” mortgages — have dropped below those for smaller mortgages. Nick Timiraos explains on the News Hub.