http://activerain.com/blogs/mortgageinsight en-us 506980 <p>Well the wait is over. Last week the new Conforming jumbo rates finally dropped to where they can make a differance.</p> <p>Loan to $729,750 in LA/Orance Counties now around 5.50% with 1 point cost. What a great improvement.</p> <p>With rates at this level more people can meet the ever tightening guidelines. Now's the time to push you buyers that are sitting on the fence as we only have until the end of the year before the Jumbo/conforming program goes away.</p> Peter Weiss (Pacific Residential Mortgage Corp) Mon, 12 May 2008 13:04:49 -0500 http://activerain.com/blogsview/506980/Finally 484680 <p>We all waited with baited breath for the new conforming limits to take effect only to find the new rates weren&#39;t much better than the jumbo fixed rates. Well that has been slowly changing, and today rates are&nbsp;over one full percent better. Example- 6.25% @1 point for jumbos to $729,750 vs 7.50% @ 1 point on 30 year jumbos. </p><p>This helps most in the qualifying area. Let&#39;s take a borrower that makes $100,000 a year, at 6.25% they would qualify for a mortgage of $540,000 and at 7.50% would only qualify for $475,000. As you can see it&#39;s quite a bit more home. </p><p>Let&#39;s hope the new rate gets even better, until then good luck &nbsp;</p><p>&nbsp;</p> Peter Weiss (Pacific Residential Mortgage Corp) Fri, 25 Apr 2008 16:02:02 -0500 http://activerain.com/blogsview/484680/New-Jumbo-Conforming-Limits