A very unusual event has occurred - which is Jumbo rates have dipped below Conventional Conforming Loans (backed by the government)!
This is quite an unusual event, but some people are theorizing that the stricter standards and higher credit scores required are yielding lower rates for these higher loans as banks and other financial institutions are looking to attract well-heeled clients with low risk. In the Washington, DC markets Jumbo loans are not unusual with starter home prices exceeding $700K in close in neighborhoods.
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