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Jumbo Loan Rate Changes in Tampa Bay

With each day bringing news of another lender closing their doors, and word on the street yesterday that Countrywide suddenly – and arbitrarily – increased its loan rates to 8%, I called two of our lenders to seewhat’s happened to their interest rates on jumbo loans.

The news was good – yes, there have been increases over the last month, but not as drastic as the newspapers would have us believe. One of them has increased their "typical" rate for a 30 year fixed jumbo loan by 5/8% to 7.5%. The other has only increased their rate by about 3/8% to 7%. Unlike years ago, these are not published rates they charge everyone – the rate can go up or down based on the creditworthiness of the borrower as well as what else he brings to the lender.

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