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Help is on the way for Jumbo loans. Either the current 1 to 1 1/2 point gap between comforming loans ($417,000 and under), currently near a very attractive 6%, and Jumbo's will be cut to a more normal .25 to .50 above the conforming level or the conforming loan limits may be increased. Two Bills are on their way to the US Senate, at this writing. One would move the limit from $417,000 to $500,000; the other would add California and New York to the expemption list (created for Hawaii and Alaska in 1980) thereby raising the loan limit to $625,500 - now that's what I call RELIEF!
 


Good News From Bad
Kevin Phillips (BWC Mortgage Services, Monterey, CA)
September 7th, 2007 10:48 AM Good News From Bad Continuing on my previous entry about reacting to headlines in the news, one thing should always be remembered: Generally bad news in the stock market and other issues, such as today's downward…
Direction of Mortgage Rates
Kevin Phillips (BWC Mortgage Services, Monterey, CA)
September 5th, 2007 11:54 AM Direction of Mortgage Rates If you only listen to what people are saying, or merely scan headlines these days, all things related to mortgage rates look pretty grim. Contrary to what the scare mongers are telling us,…
 

Kevin Phillips

Monterey, CA

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BWC Mortgage Services, Monterey, CA

Office Phone: (831) 648-9310

Cell Phone: (831) 320-0282

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