Mar. 12, 2010 (FreeRateUpdate.com) – The prudent among home owners with a mortgage are locking in the lowest mortgage rates since RCA black and white TVs were the rage in the Sears Roebuck catalog. We continue to see significant refinance risks for the “wait till later” crowd. The group that is always waiting for things to get something cheaper in the proverbial future or were the kids who turned in their book report a day late. Procrastination and waiting for better jumbo mortgage rates is… Read more

Mar. 5, 2010 — (FreeRateUpdate.com) – Over the years, I have had countless conversations with home buyers about their jumbo mortgages. From 2003 to 2008, a typical a cocktail party or a BBQ invariably went something like this: Home-Buyer: We got a great deal on our new mortgage. Me: Did you do a 30 year fixed jumbo loan or something more exotic? HB: 30 year fixed jumbo mortgage— at 4.5% ! Me:  Sorry, but that’s not 30 year fixed — rates are 6.5% today. That’s probably a… Read more

LOS ANGELES, CA — Feb. 13 (FreeRateUpdate.com) – Retail sales came out basically flat, car sales have stabilized (aside from Toyota) and job losses seem to be slowing down. But this long running recession is not finished with exacting pain on jumbo mortgage borrowers. A record 9.6% of homeowners with a jumbo mortgage are behind on their payments or in foreclosure as the housing crisis spreads to borrowers with previously stellar credit records and six figure incomes. And the wave of… Read more

Feb. 8 (FreeRateUpdate.com) – We speak to dozens of folks daily that are waiting for rates to get lower than the 4.25% 5Y jumbo mortgage loan or a fixed jumbo mortgage at 5.75% for a 30Y Term on a 2 million balance that we quoted. Of course, who doesn’t want a lower cost on something? Especially on a household budget item that represents roughly 20-30% of most clients’ household income. Several factors could make waiting a disaster and the largest financial gamble a family ever unknowingly… Read more