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Park cities mortgage rates are extremely low due to heavy concentration of banks. Contact me for more info and for jumbo mortgage rate quotes.
Two day Federal Reserve meeting, hopefully their announcement will stem increased purchasing of mortgage backed securities. Bond prices and yields move inversely. Hence when the Fed starts buying up mortgage bonds they bid up the prices and therefore drive down the rates. This is called open market operations and its textbook economics 101. Let's see what they have to say. While the FED probably will just buy Agency MBS, the buying of any long term bonds ususally trickles down into non-conforming MBS and therefore it could drive down the cost for a Park Cities Jumbo Mortgage Rate.