The Tighening Credit in the Mortgage Market

The San Francisco Chronicle reports:

The mortgage mess is already boosting rates for borrowers in the United States - if they can get home loans at all. Jumbo loans - those greater than $417,000 - are carrying interest rates of 7.5 to 8 percent, 1 to 1.5 points higher than a month ago, according to the Mortgage Bankers Association.

That's a big jump in a short time.