``As there are very few brokers still in the mortgage industry, the big banks have taken over the bulk of the business. With big banks looking to expand their jumbo loan lending business, the competition with interest rates has been heating up. JP Morgan Chase, Citibank, Bank of America and Wells Fargo are all looking to write loans for home owners that qualify for a jumbo mortgage refinance since this group, usually holding good credit and stable jobs, is now considered low risk. As the advertised jumbo mortgage interest rates for each of these banks is similar or very competitive, it is more important for home owners to negotiate bank fees to get the best deal.''

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