A Jumbo Loan Can Match a Conventional Mortgage on Rate
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A jumbo loan can carry the same rate as a conventional 30-year. In FreeRateUpdate’s lender network, the best advertised jumbo purchase rate we recorded on September 15 was an eighth of a point below the best conventional 30-year, and on October 4 the two were the same at 6.75%.
Both rates went up in that time. The best conventional 30-year moved from 6.375% to 6.75%, and the best jumbo from 6.25% to 6.75%. On October 4 those advertised rates, which aren’t quotes, had APRs of 6.954% on the jumbo and 6.924% on the conventional loan.
| Date | Jumbo | Conventional |
|---|---|---|
| September 1 | 5.875% | 5.99% |
| September 15 | 6.25% | 6.375% |
| September 19 | 6.25% | 6.25% |
| September 28 | 6.625% | 6.5% |
| October 4 | 6.75% | 6.75% |
What the matching rate is worth
Take a $900,000, 30-year fixed jumbo loan at the October 4 rate, on a one-unit home in a county where that’s above the conforming limit and for a buyer who qualifies with the lender, paid on schedule with no refinancing or extra payments. The principal and interest payment, before the points and other charges, is about $5,837 a month.
That’s the same rate the best conventional 30-year carried that day, and the jumbo rate came with more points, 1.814 against 1.35.
Source: FreeRateUpdate As Low As rate history, best advertised rates in our lender network, recorded September 1 to October 4, 2026. Captured data: jumbo · 30-year fixed.
