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Brett Boyke

Jumbo Loan Borrowers Borrowing Power Slipping Away

Tuesday, February 5, 2013 - Article by: Brett Boyke - Wintrust - Message

We are seeing a dramatic shift upward in mortgage rates, and as a result buyers who require jumbo loans to finance their new home purchases are seeing a reduction in the amount they can qualify for (and thus the purchase price diminishes). This week is traditionally the start of the Spring market for sellers to start listing their homes for sale. The additional inventory coming onto the market gives buyers a limited window to offset the increase in rates with the competitiveness of the inventory coming onto the market. The time to act is now...

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