They would have done much better financing my jumbomortgage (which they declined).
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2.
By contrast, the national average rate for a home-equity line of credit is 5.15% and for a 30-year "private" jumbomortgage it is 4.08%, according to HSH.com, which tracks the data.
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3.
The virtual shutdown of the subprime mortgage market and a widening of spreads on jumbomortgage loans have further reduced the demand for housing, while foreclosures are adding to the already-elevated inventory of unsold homes.