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Purchase Volume Takes a Hit, Responding to Rising Interest Rates – The Refinance Index had surged 39 percent at the end of March. The average contract rate for jumbo 30-year FRM, loans with balances higher than the conforming limit, increased to 4.35 percent from.
Mortgage Applications Decline 7.3% – The Refinance Index decreased 11% from the previous week. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $484,350) increased to 4.35%.
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How to Get the Best Rate on a Jumbo Loan Refinance – Sometimes the typical limits on loan amounts may not be enough to allow you to buy or refinance your home – especially if you live in a high-cost area. In that case, you may need to apply for a jumbo loan.Jumbo loans can be harder to get than their traditional, conforming counterparts, but it’s far.