Mortgage Rates for Jumbo Loans. Rates based on a $1,000,000 loan amount.
5/1 ARM      6.125%
7/1 ARM      6.375%
These rates are with a 1 point cost. Other options are available. These quotes assume a purchase transaction with 20% down,  full income and asset documentation, a 680 credit score, and a 30 day rate lock.

As we move into 2008 and going forward, many homeowners will be having their interest rate resetting. Between 2002 and 2004, huge numbers of homeowners chose to finance their homes with intermediate ARMs that had the rate fixed for 3, 5, 7, or 10 years.
 The rates during this time period were incredibly low. For example, […]