? about jumbo mortgages

I have 2 questions about jumbo mortgages (over $417k).

First, does anyone know what the typical interest rate difference is between a jumbo and non-jumbo or conforming loan is? Is 25 bp accurate?

Second, I read the attached article from Bankrate which states that most banks only offer ARMs for jumbo loans and that a fixed rate jumbo is rare. Is this true? Has anyone received a fixed rate jumbo from a lender?

TIA!http://www.bankrate.com/finance/mortgages/do-you-qualify-for-a-jumbo-mortgage-1.aspx

Re: ? about jumbo mortgages

I'm not sure about your first question. We were quoted for both types at one point but I just don't remember what the difference was in the interest rate. With regard to your 2nd question though, we were definitely only offered 30 year fixed for the jumbo, as opposed to an ARM for a conforming loan. It obviously all depends on the particular situation though, how much you are putting down, etc.

Re: ? about jumbo mortgages

Over $417k is high balance conforming.
Over $625.5k in NY is currently "jumbo."
The difference between conforming and high balance conforming is 25bps.