Jumbo Mortgage Market

Two weeks ago, the average interest rate on a 30 year fixed rate jumbo dropped to 5.79% , a nearly five year low. This average is also down from 7% in late 2008. Would you think you can get rates on jumbo mortgages that are even lower? Well you can! Rates are even lower on hybrid adjustable mortgages, which the rate is fixed for a period of time and adjustable there after. Banks are beginning to relax slighhtly on their requirements for jumbo loans. These lower rates are reflecting the banks increasing confidence in the housing market.

The Max loan amount alowed for Freddie Mac and Fannie Mae "conforming loans" are set by congress and for a single family home is 729,750 in high cost areas. At "The Mortgage Concierge Group" we also work with investors that are portfolio lenders, or lenders that service there mortgages and do not sell to the secondary market. These portfolio lenders will make mortgages that are higher than 1 million dollars.

In 2005 to 2006 the difference in interest rates betweend conforming and nonconforming or jumbo loans were only a quarter percentage higher on the jumbo mortgages. In early 2009 the spread widened to 1.7 percent difference. However, this year the rate spread has narrowed to less than a percentage point and can shrink even more after a new Federal Reserve program.

Not only are rates and requirements lowering but the are said to possibly continue to do so. Now is the time to call us and figure out your options in regards to refinancing or consolidated debt. It is great to see some relation in the market, especially in the jumbo sector.

The world is all gates, all opportunities.

At "The Mortgage Concierge Group" the world is all gates and all opportunities for borrowers. It is important that in a lending market that is becoming more regulated as the days and weeks pass, that you work with a BROKER that is consistently staying up to date with these regulations and signing on less regulatory lenders. We pride ourselves on working for the client and not for the bank.

“All gates and all opportunities”. It is just as important that in life you never close any doors or subject yourself to one method of doing something. Variety is so important. In business you need to build relationships, market, network, called call, stay in touch with past clients, and consistently stay attune to new strategies that can help grow your business. This in a nut shell is what we do every day! We make sure that our clients are offered the products that are not only the most competitive but that will get them qualified, we make sure that we present our clients with VARIETY and OPTIONS, we consistently stay aware of changes that can affect a borrower in today’s market, we make sure that we are accessible for our clients and business contacts at all times.

There is no better way to put it then "ALL GATES, ALL OPPORTUNITIES". A combined 30 years of knowledge and expertise in wholes sale, retail, commercial lending will leave all opportunities open for our borrowers. The opportunity to own their first home, refinance a high interest mortgage, or consolidate the ever rate changing credit card bills.

We are here to help and to get the job done. We will always place a client’s interest before our own!!! Visit us today and give us some feedback on your experiences, let's continue our relationship in 2010 and continue to grow together!!

"Strive not to be a success, but rather to be of value."

How do we create value to clients, business contacts, friends, and associates? The answer is simple, there are many successful people however not many of much value. Stand outside the box, take advantage of all that is offered to amplify your value to the people in your network. Be valuable is defined as "having qualities worthy of respect, admiration, or esteem." You may all be thinking am I respected? admired? . In order to create respect and admiration among your piers is simply realizing that being valuable isn't being ordinary.


This gentlemen to our right is certainly not ordinary, but is he respected? There is a fine line I'm sure we would all agree. My thoughts on not being ordinary are more along the lines of "going the extra mile to stand out by marketing, continuing to stay knowledgable in your industry, being reliable (a qualtiy sad to say, most dont have), offering solutions to help grow business's, networking, and realize you must give in order to gain."


As a Mortgage Broker I immediately knew when I entered the business that I would not be like everyone else (my competition). How did I set my self outside the box? By staying open to opportunities that cross our desks, emails, and paths everyday. Opportunities such as active rain. We are lucky to be in a world where there is a constant stream of information consistently being sent to us, being able to take advantage of all of these opportunities and delegate your time is what gets difficult.

My system does exactly that "strive not to be a success, but rather to be of value". My main stream of business is referrals as many professionals would agree. However, when you get a referral it means you ARE of value to the individual that entrusted in you to take care of their client, friend, or family member. Creating value is being honest, being reliable, being punctual, understanding you must give in order to gain (if you want someone to help you grow your business, help grow theres as well). With all of this as well as taking advantage of all of the different "outside the box" ideas there are, you will undoubtably create respect, admiration, and esteem; You will be of value.