Mortgage often proves to be a solution to many problems, and taking out a mortgage on a property or a house is a convenient method whose use is employed by many. However, the mortgages are affected by the jumbo loan rates and in order to get the best deals of mortgages, it is imperative to know about these loan rates. The thing with jumbo mortgage rates is that they fluctuate. This means that if they are on the high today, they may be low in a matter of days and vice versa. Therefore it is vital to know about the current situation of jumbo loan rates so that the best decision regarding mortgages can be made. Below is some of the latest information about jumbo mortgage rates.

If one takes a look at the current situation, it can be found that the rates that are available in the market currently are quite low. This can be estimated from the fact that for a 30 year fixed mortgage, the rates have decreased a lot and right now, they are a mere 5.0%. This is considerably low when it is compared to the high jumbo rates that the market has witnesses. To add to this, the origination point is somewhere between 0.7% and 1%, showing that for someone interested in getting a mortgage, the current situation presents a golden opportunity. The loan limit has also decreased and now is the same as it was at the time of October last year. However, it is extremely important to note that these rates may not last longer. The current loan limit which falls in the range of $417,000 and $729,750 will once again be considered in the jumbo mortgage loan category, and this means that the rates of mortgages are likely to increase once again.

This means that the situation has everything in favour of a borrower currently, and therefore this opportunity should not be wasted. The home prices have also been low lately, and when combines with the current low jumbo mortgage rates, buying a home through borrowed money is likely to bring a much better value of money. All potential borrowers are therefore urged to make use of this opportunity.