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Reply to "newbie question: how to compare mortgage lenders"
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[quote=Anonymous]Um, no. You have no idea what you are talking about. First, the jumbo cutoff is well above 417 for the entire DC metro and has been since the crisis. Second, jumbo rates are now lower than conforming rates for many lenders. A lot has been written about why this "rate inversion occurred, but the short answer is that banks now portfolio almost all nimbus since the private label MBS market imploded, and underwriting for such loans is very, very strict. https://www.wellsfargo.com/mortgage/rates/ [quote=Anonymous]It's possible that OP and PP have different loan amounts. Rates are always lower on loans of less than $417,500, for example.[/quote][/quote]
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