Tuesday, November 12, 2013

Tall People Reach Higher Shelves

Jumbo mortgages now carry cheaper rates than traditional loans - Nov. 12, 2013:

Wine costs less by the case. Government services cost less than private services ... eg Space Shuttle $450M per launch, Spaceship2 $150K.

And now this breathtaking article ... oh, and the little kicker

Jumbo loans have also gotten comparatively cheaper. As the Federal Housing Finance Agency (FHFA), which regulates Fannie and Freddie, seeks to boost the two agencies' reserves against losses from mortgage defaults, it has raised fees and other costs for borrowers, according to Terry Francisco, a Bank of America spokesman.
Since Fannie and Freddie don't back jumbo mortgages, those fees don't apply and therefore aren't passed on to borrowers.
Things that make you go "duh".

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