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Jumbo mortgage loan rates put damper on refinancing (Boston Globe)
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While plunging mortgage rates have spawned a frenzy of refinancing, borrowers with larger, so-called jumbo loans are still seeing interest rates in the 7 percent range, prompting many to abandon refinancing plans altogether or resort to creative transactions.
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Non-Agency Mortgage Bonds Rallied as Rates Declined (Update1) (Bloomberg)
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Jan. 5 (Bloomberg) -- U.S. mortgage bonds without government support rose last month, as lower home-loan rates boosted investor demand. Securities initially rated AAA and backed by prime- jumbo mortgages with five years of fixed rates climbed 5 cents on the dollar in December to 75 cents, according to JPMorgan Chase & Co. data.
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Non-Agency Mortgage Bonds Rallied as Rates Declined (Update2) (Bloomberg)
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Jan. 5 (Bloomberg) -- U.S. mortgage bonds without government support rose last month, as efforts by the Federal Reserve and Treasury Department to lower home-loan rates boosted investor demand.
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Jumbo mortgage shoppers get little relief (The News Journal)
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Fed's actions could narrow spread
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Mortgage rates are low, but loans difficult to get (San Jose Mercury News)
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Banks are reluctant to lend at favorable rates to all but the most bulletproof of borrowers, according to area mortgage brokers. Unless you have a gold-plated credit score, low credit-card debt and a big down payment or a lot of equity, those rates of 5 percent or less on a 30-year fixed-rate mortgage may be out of reach.
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