Mahoney Money Minute -- September 23, 2011 -- Jumbo Mortgages

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Uploaded by on Sep 21, 2011

In this Mahoney Money Minute, Belmont Savings Bank President and CEO Bob Mahoney discusses the possibility of the US government reducing the limit for jumbo mortgages. Currently, jumbo mortgages are home purchases in excess of $530,000, requiring a higher rate and a larger down payment.

The limit is on the verge of being dropped, making it harder to buy a home at a time of crisis for the housing market.

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