Rates go down on Jumbo mortgage:

[Mike]

The good news is the rates on Jumbo-confirming mortgages have gone down. Rate on 30 year FRM Jumbo-confirming was 6.125 percent with no points and standard confirming is 5.875 percent., although the criteria for getting jumbo-conforming mortgage is still very strict. Fannie Mae and Freddie Mac need higher Fico scores, detailed income documentation, bigger down payments and lower DTI ratios to approve you for the loan.Now this is a good time to refinance the Jumbo-confirming loan to turn it to lower interest rates.