Current jumbo mortgage rates

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Bankrate's lowest 30-year rates for Oct. 17, 2021

Today's national jumbo mortgage rate trends

For today, Sunday, October 17, 2021, the national average 30-year fixed jumbo mortgage APR is 3.240%, lowered to compared to last week’s of 3.260%. The national average 30-year fixed jumbo refinance APR is 3.190%, down compared to last week’s of 3.200%.

Whether you're buying or refinancing, Bankrate often has offers well below the national average to help you finance your home for less. Compare rates here, then click "Next" to get started in finding your personalized quotes.

We’ve determined the national averages for mortgage and refinance rates from our most recent survey of the nation’s largest refinance lenders. Our own mortgage and refinance rates are calculated at the close of the business day, and include annual percentage rates and/or annual percentage yields. The rate averages tend to be volatile, and are intended to help consumers identify day-to-day movement.

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What are current jumbo mortgage rates?

Lenders nationwide provide weekday mortgage rates to our comprehensive national survey to bring you the most current rates available. Here you can see the latest marketplace average rates for a wide variety of purchase loans. The interest rate table below is updated daily to give you the most current purchase rates when choosing a home loan. APRs and rates are based on no existing relationship or automatic payments. For these averages, the customer profile includes a 740 FICO score and a single-family residence. To learn more, see understanding Bankrate rate averages.

Product Interest Rate APR
30-Year Fixed-Rate Jumbo 3.140% 3.240%
15-Year Fixed-Rate Jumbo 2.400% 2.470%
7/1 ARM Jumbo 3.400% 3.600%
5/1 ARM Jumbo 2.950% 3.600%

Top 5 Bankrate jumbo mortgage lenders

  • Ally Bank – Best overall
  • CIT Bank – Best bank lender
  • First Mortgage Direct – Best no-fee lender
  • – Best online lender
  • PNC Bank – Best for refinancing


Bankrate helps thousands of borrowers find mortgage and refinance lenders every day. To determine the top mortgage lenders, we analyzed proprietary data across more than 150 lenders to assess which on our platform received the most inquiries within a three-month period. We then assigned superlatives based on factors such as fees, products offered, convenience and other criteria. These top lenders are updated regularly.

Ally Bank – Best overall

Ally Bank is an online bank and lender that offers several benefits for borrowers seeking jumbo loans and other types of mortgages.

Strengths: Ally Bank displays interest rates and APRs on its website, and you’ll be able to get preapproved in as little as three minutes, with the typical closing taking place 10 days faster than the industry average, according to the bank. Notably, Ally allows restricted stock units to count towards jumbo loan reserve requirements.

Weaknesses: The bank doesn’t lend mortgages in 13 states (Alaska, Connecticut, Hawaii, Maryland, Massachusetts, Minnesota, Nevada, New Hampshire, New York, North Carolina, Vermont, Virginia or Wyoming), and if you’re a first-time homebuyer seeking a jumbo loan, you’ll need at least 12 months’ reserves to qualify.

Read Bankrate's Ally Bank mortgage review

CIT Bank – Best bank lender

CIT Bank, which also does business as OneWest Bank in Southern California, has fixed-rate products ranging from 10- to 30-year terms, as well as adjustable-rate and interest-only loans. The bank also offers jumbo loans up to $2 million.

Strengths: If you’re a banking client, you can get a lower mortgage rate if you deposit a certain portion of the loan principal into your account, and $525 cash back after you close your loan. You can also view interest rates online after inputting some basic information.

Weaknesses: With the exception of OneWest branches, the bank doesn’t have physical locations if you’re seeking in-person assistance.

Read Bankrate's CIT Bank mortgage reviews

First Mortgage Direct – Best no-fee lender

First Mortgage Direct, the online division of First Mortgage Solutions, offers both purchase loans and refinancing.

Strengths: First Mortgage Direct has no hidden fees or limited-time offers, and you can receive a personalized rate within seconds through its website. Borrowers are also able to close in 30 days, which is in line with many other lenders’ timelines.

Weaknesses: First Mortgage Direct is available only in 19 states (California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Kansas, Missouri, Nebraska, New Jersey, Oregon, Pennsylvania, South Carolina, North Carolina, Tennessee, Texas, Virginia and Washington).

Read Bankrate's First Mortgage Direct review – Best online lender, also known as Better Mortgage, is an online mortgage lender. It ranks highly on Bankrate’s lists of best mortgage lenders overall, best online lenders and others.

Strengths: With Better, you can get a rate quote in seconds and a preapproval in as little as three minutes. The lender doesn’t charge unnecessary fees, either.

Weaknesses: There aren’t any branch locations, which can be a disadvantage if you’re looking for in-person support from a loan officer. mortgage review

PNC Bank – Best for refinancing

PNC Bank is a bank offering an array of financial products, from high-yield savings accounts to different types of mortgages.

Strengths: PNC Bank can do jumbo purchase loans and refinances up to $5 million. The bank also offers online preapprovals (these take 20 to 30 minutes to generate) and showcases interest rates on its website. In addition, some clients have access to discounts on mortgage.

Weaknesses: Relationship pricing is only available to PNC Wealth Management and Hawthorn clients who have at least a $500,000 balance, which can be a barrier of entry for some borrowers.

Jumbo mortgage basics

Shopping around for the best jumbo mortgage rates

When getting a jumbo loan (or really any kind of loan), it’s a good idea to shop around. Bankrate is a good starting point. Because a non-conforming loan is usually for such a large amount, getting the best rate can make a big difference in the amount of interest that you pay.

Be sure to check with local financial institutions as well, since sometimes community banks or credit unions can have good rates. It’s also a good idea to work with a mortgage broker who specializes in jumbo loans.

As you solicit quotes from lenders and brokers, make sure you provide information that’s as accurate as possible. Because your credit score is going to be a big determinant of your rate, review your credit report before you start shopping around. If you see errors, have them fixed as soon as possible.

Be prepared to answer questions about your liquid and non-liquid assets, as well as how much you can afford for your down payment. You should also have an accurate idea of your income and your debt levels so you can let potential lenders know your debt-to-income ratio. The more accurate your information, the more accurate your preliminary mortgage rate quote will be.

Bottom line

If you plan to buy a home and need a loan that exceeds the conforming limit set by the FHFA, you need to understand jumbo loans. You’ll probably have a more involved and complicated process to go through to fund your home. However, if you move forward with the right lender, there’s a good chance that you’ll be able to get the home of your dreams — even if you use a non-conforming loan.

Learn more about jumbo mortgages

Written by: Jeff Ostrowski, senior mortgage reporter for Bankrate

Jeff Ostrowski covers mortgages and the housing market. Before joining Bankrate in 2020, he wrote about real estate and the economy for the Palm Beach Post and the South Florida Business Journal.

Read more from Jeff Ostrowski

Learn more about specific loan type rates
Loan Type Purchase Rates Refinance Rates
The table above links out to loan-specific content to help you learn more about rates by loan type.
30-Year Loan 30-Year Mortgage Rates 30-Year Refinance Rates
20-Year Loan 20-Year Mortgage Rates 20-Year Refinance Rates
15-Year Loan 15-Year Mortgage Rates 15-Year Refinance Rates
10-Year Loan 10-Year Mortgage Rates 10-Year Refinance Rates
FHA Loan FHA Mortgage Rates FHA Refinance Rates
30-Year FHA Loan 30-Year FHA Loan Rates 30-Year FHA Refinance Rates
VA Loan VA Mortgage Rates VA Refinance Rates
ARM Loan ARM Mortgage Rates ARM Refinance Rates
5/1 ARM 5/1 ARM Rates 5/1 Refinance Rates
7/1 ARM 7/1 ARM Rates 7/1 Refinance Rates
10/1 ARM 10/1 ARM Rates 10/1 Refinance Rates
Jumbo Loan Jumbo Mortgage Rates Jumbo Refinance Rates
30-Year Jumbo Loan 30-Year Jumbo Loan Rates 30-Year Jumbo Refinance Rates