Mortgage loan rates are heading higher -- even higher than they should be. While today's expected Fed rate cut won't really affect mortgage loan rates, it is true that rates are higher than they should be, according to the current 10-year Treasury Note rate, according to the San Francisco Chronicle:
McBride says the average rate on jumbo loans is almost two percentage points higher than it should be relative to Treasurys.
The mortgage market is tight right now, and unless you have good credit and a large down payment, you may find it difficult to get a home mortgage loan.
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