td bank for jumbo loans?

I hate TD... they took waterhouse public at 24 and then took it private a year later at 9, effectively screwing everyone who engaged in their IPO - customers included.

As for their jumbo loans, see the above - call schwab.

What is the TD rate?

around 5% for a 30 yr fixed: http://tdbank.mortgagewebcenter.com/Default.asp?bhcp=1

java: see other thread. lower rates in NY

http://online.wsj.com/article/SB10001424052748703294904575385511910789360.html

Citibank has lower rates. I was in a branch in the flatiron district and they are offering 4.625% for a 30 yr fixed jumbgo loan.

I think most people will be surprised at the difference in rates once theyve actually applied for a mortgage. There are many factors in determining rates such as loan to value, credit, property type, etc. Im not saying what banks are quoting arent true but there are many factors that can change that rate once you actually apply for the mortgage. sunny.hong@bankofamerica.com

Very good point Shong.
Different lenders will price mortgage differently, each with their own risk based matrix which has as much do with opinion, appetite for risk and market pricing if/when they decide to resell the loan. Also various lender have different funding costs.

As I mentioned on another blog, I have an approved and locked in mortgage at 5% from citibank, when I first started looking at Citibank they were quoting at 5.225% while other banks were at 5.625%. I subsequently locked in over a week ago at 5% w/ no points, and a an approximately $1600 credit towards closing costs. Since I locked, rates have continuted to fall, I am currently try to renogiate to the lower closing costs. After I locked in, I gave Bank of America my Citibank good faith estimate, and they could not match it. I also looked at Wells Fargo.

Further to my comment above, I was working with a mortgage broker and he could not match the rate quoted by Citibank.

Citibank may have made a decision that they want to be long mortgage credit, while BAC may wish to deploy capital elsewhere. I recall years ago Countrywide began offering uncompetitive fixed rates preferring to push people into adjustable rate products which could be sold into the market at higher prices.