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- Jumbo Home Loan
Jumbo loans are home mortgages whose principal amount is more than $729,750 in high cost areas. During this financial crisis, it had been hard to find jumbo loans at affordable rates.
The rate for jumbo loans had increased to 7% in late 2008 and last week it dropped down to historical lows of 5.88% which makes it very attractive for refinancing a jumbo loan or upgrading to a higher value home.
Is it time to refinance?
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