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They were yesterday when I rate "locked" a $400,000 loan on a $775,000 townhouse in San Francisco.  Client opted for 5.250%~30 year fixed with "No points and no fees."  In my case this means there are no loan origination fees, no "points" and I PAY all of the "closing costs" out of the rebate from the lender.  My client reduced their mortgage rate down to a 30 year fixed 5.250% AT NO COST.  We don't add the closing costs to the loan with this program, WE PAY THEM FOR YOU.  Hence, if your rate is higher than 5.250% and you're in need of a loan up to $417,000 then you best be talking to me right away.  Client has excellent credit, good income and the property was in good shape.

Jumbo loans, those over $729,000, are starting to have more program options and better pricing than before.  Keep an eye out for the low rates will not last much longer.

Working on a purchase scenario for a client, $1.3 million purchase price, with 24% down (if you can keep the loan amount under $1,000,000 the pricing in better) today's pricing on a 30 year fixed was 5.875 with 1 point loan origination fee.  6.00% was .75 loan origination.  A month or so ago, this was not possible.  Jumbo pricing is back !

The flip side of the coin is "conforming" (up to $417,000 loan amount) pricing is a bit weaker than before ... But I can still do a "no points/no fees" type loan at 5.375% 30 year fixed, owner-occupied with good credit and qualifications.  80% "loan-to-value." 

All these terms are explained on the website if you are confused.

Don't be confused, call Terry ...