Help appears to be on the way for Jumbo loans

Mortgage and Lending with BWC Mortgage Services, Monterey, CA
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!

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