We have now officially received our first rate sheet to be released under the new Fannie Mae/ Freddie Mac Jumbo conforming program. If you have been following my posts here you already know that they were not going to simply open up the existing conforming interest rates for Jumbo loan amounts. the question we have been waiting to answer was would the “new” Jumbo loans be any lower than the “old” Jumbo loans?
It does appear that the new conforming Jumbo rates will start out tracking at about half way between the traditional conforming rates and the current Jumbo rates. According to the only rate sheet I have seen so far to include the new program. The spread between the “old” conforming and the old Jumbo loans has been running a full percentage point and more. As of our very first peek at the new FNMA jumbo pricing, it is priced about a half percent above the traditional conforming, and a half percent below the traditional Jumbo rates.
