Jumbo Refinance Mortgage Rates

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Freddie Mac?s Weekly Primary Mortgage Survey for the week ended November 23 recorded the first drop in mortgage rates since September 1. 2005. Over the 13 week run-up the 30 year fixed rate mortgage increased from 5.71 percent to the 6.37 percent recorded for the week ended November 17. Last week the rate dropped to 6.28 percent, the lowest since October 27, with fees and points remaining constant at 0.6.

This follows on the heels of a reduction in rates reported last week by the Mortgage Bankers Association. MBA recorded a second straight week of rate decreases in its weekly report issued on November 30.