Jumbo Loans No Longer Cheaper than Conforming Loans
While the mortgage rate dropped to a record low in 2020, the jumbo-conforming mortgage rate spread widened. In other words, jumbo loans were relatively more expensive than conforming loans.
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Archana Pradhan holds the position of principal, economist as part of the Office of the Chief Economist at CoreLogic. With years of experience in housing economics, applied econometrics and spatial analysis, she is responsible for analyzing housing and mortgage markets.
Prior to joining CoreLogic, she was program manager and senior research analyst at the National Community Reinvestment Coalition. She earned her doctorate in natural resource economics from West Virginia University.
While the mortgage rate dropped to a record low in 2020, the jumbo-conforming mortgage rate spread widened. In other words, jumbo loans were relatively more expensive than conforming loans.
Lower Average Debt-to-Income and Loan-to-Value Ratios, Higher Credit Score in Q4 2020 Compared to Q4 2019 Three important factors in mortgage underwriting are debt-to-income (DTI)
Largest Cohort Enters the Peak Age for First-Time Homeownership, Makes Up More Than Half of All Home Purchase Applications For the last five years, millennials
New York Had the Highest Net Out-Migration and Riverside Had the Highest Net In-Migration In spite of the confluence of the COVID-19 pandemic and high
Serious Delinquency Rate for all Mortgage Loan Types Up from a Year Ago As the COVID-19 global pandemic has created havoc in the global economy,
Higher-Priced Mortgage Loans Are at More Risk when COVID-19 Forbearance Ends As the COVID-19 global pandemic has created a havoc in the global economy, millions