‘Jumbo’ Mortgages Thrive in 2nd Quarter

‘Jumbo’ home loans, private-financed loans exceeding $417,000 that are not backed by the government sponsored enterprises such as Fannie Mae and Freddie Mac, gained momentum in the second quarter of 2012. According to the trade publication, Inside Mortgage Finance, “lenders doled out $38 billion in private jumbo mortgages” in the second quarter, 65% more than a year ago. Moreover, the increase was “the highest quarterly dollar amount since the first quarter of 2008.” http://on.wsj.com/OxqK6u

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