2010-12-09 — freerateupdate.com
"As the Federal Housing Administration is pulling on the reins of its underwriting guidelines, the jumbo mortgage market continues to flourish. According to the Massachusetts Association of Realtors, sales of conforming mortgage residences decreased by 24 percent in the third quarter of 2010. However, sales of jumbo mortgage homes decreased by only 3 percent. Moreover, jumbo mortgage borrowing accounts for nearly 10 percent of all home loans in the state of Massachusetts; compared to the nationwide average of only 5 percent."
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