There was a mistake in the rate-check I posted on Monday (above).
The jumbo rate quoted should have been 3.37%, not 2.37%.
This article discusses the spread between the conforming and jumbo rates, which has been closer until recently. It mostly comes down to lenders having few options where they can sell the jumbos loans, where the government will buy every conforming mortgage you can send them:Link to Article
For anyone who might be concerned about mortgage defaults, I wanted to highlight these charts to show the risk level the banks are accepting on jumbo loans. This is the safest-looking data I’ve ever seen – it would take a catastrophic event for us to have a mortgage meltdown like we had last time:
A credit score of 775, equity over 20%, and a debt-to-income ratio under 33% is a dream borrower!