Jumbo Rates Dip For Buyers

Some mixed housing signals as for the seventh straight week mortgage activity declined while interest rates were up and down, based on information from the Mortgage Bankers Association. MBAA statistics shows mortgage activity dropped 3.7 percent in the week ending Friday July 25th.

During that same week,  refinancing activity also fell by 4 percent.

For higher-end buyers in the jumbo loan category for loans above $417,500, there is some good news as rates dipped to  4.64 percent from 4.66 percent. the origination percentage dropped as well to 0.31 from .33.

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