Pardon the ignorance. But I remember reading an article about Wells Fargo raising rates to 8% for jumbos. But isn't this just jumbo's done through mortgage brokers? If you apply directly from Wells, is it a different rate?
Correction: An earlier version of this story did not make a distinction between loans made through mortgage brokers and ones offered directly by Wells Fargo, which, as of Wednesday, carried a rate of 7 percent.
If so, I'm wondering what if it's similar from the other institutions. If so, seems to me that mortgage brokers are going to get screwed.
