The collapses of Silvergate Bank, Silicon Valley Bank and Signature Bank, the rescue of First Republic Bank and the acquisition of Credit Suisse by UBS, brought turbulence to the financial markets that led to a decline in mortgage rates – despite the Federal Reserve hiking federal funds rate by 25 basis point on Wednesday. 

The bank crisis has also reduced the spread between conforming and jumbo loan rates. Mortgage industry experts believe the current turbulence has potential to hit the jumbo details ⇒

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