Washington Post (04/18/08) P. D4; Shenn, Jody
Wells Fargo, J.P. Morgan Chase, Citigroup and Washington Mutual will offer lower interest rates on home loans greater than $417,000 as a result of an agreement the lenders have reached with Freddie Mac. As much as $15 billion in big loans and related bonds will be bought or guaranteed by Freddie Mac this year, according to Bob Ryan, vice president of mortgage-credit pricing for the government-chartered enterprise in McLean, Va.. Jumbo borrowers, meanwhile, are likely to face an interest rate that is 0.50 percentage point to 0.75 percentage point higher than on smaller loans. Fannie Mae has been offering similar purchase programs, which also include small lenders, since April 1.
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