An update on mortgage rates – they are staying in a tolerable range, so far.
The 30-year fixed-rate mortgage averaged 5.32% for the week ended Thursday, down from last week’s 5.42% average and 6.35% a year ago.
Bank of America’s 30-year jumbo fixed rate today was 5.625% with a point. They have been pretty aggressive on rates, and ended up ranking as the #1 jumbo lender for the first quarter:
Lenders are still looking for full documentation on the 30-year jumbos. There are a few brokers that mention easy-qual loans being available, but rates would be higher, and offered only on short-term interest-only terms too.