Bigger mortgages at better rates

July 3, 2013 | Last updated on July 3, 2013
1 min read

American banks are seeking out wealthy clients willing to take on jumbo mortgages, reports Bloomberg.

And they’re doing so by matching and bettering borrowing rates provided for government-backed loans. U.S. analyst Paul Miller told Bloomberg that banks keep these loans on their books rather than bundling them into securities, and adds they’re continuously looking for new lending opportunities due to sluggish economic growth.

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