For the past several years the standard jumbo rates (417K and up) in the greater Roanoke VA area has been very high in comparison to loans under the jumbo limit.  What I have seen for the past few years has been about 1.5%-2% higher than a standard rate, so if the rates are at 5% on most programs you would see a jumbo at 6.5%-7%.  Lately I have seen the rates stagnate between 5%-5.5% for most programs.  We are starting to see jumbo pricing improve i have seen the spread narrow to .5%-.75% higher than standard rate.  Last week I was able to price one out at 5.875% this is a great opportunity for those who are buying above the jumbo limit.  High end real esate is priced well below where it was and with very attractive rates with better jumbo pricing.

Tags: Botetourt, jumbo pricing, jumbo rates, mortgage banker, mortgages, Rates, roanoke, Salem, va

This entry was posted on Monday, July 27th, 2009 at 8:42 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.