Jumbo Mortgage

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Mortgage Rates Post Biggest Jump in 14 Years 

Feb 21, 2008By

Mortgage rates jumped dramatically during the past week, rising to an average of 6.37 percent for a 30-year conforming fixed-rate mortgage — 41 basis points above the average rate just one week earlier. According to Bankrate.com’s weekly national survey of large lenders, rates on 30-year jumbos soared to 7.55 percent. The jump in rates represents the single largest weekly increase since April 1994.

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