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Lena Lewis and Bridget Naso interview Anne-marie about the effects of the Economic Stimulus Package on the San Diego Real Estate Market.
Anne-marie says the typical interest rate difference between a jumbo loan and a conforming loan is about 1%, which will
save someone who refinances $700,000 about $5,400 / year. For the number of homes in San Diego that could be affected,
this could mean $1B+ / year in mortgage interest savings which would likely go directly back into our economy.
With interest rates at their lowest in four years, it is a great time for homeowners to refinance to convert a
jumbo loan to a cheaper conforming loan, combine a first and second into a cheaper conforming loan, trade in a
variable rate mortgage for a long-term fixed rate mortgage, reduce interest rates, or to just consolidate debt to reduce payments.
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