Banks are not offering jumbo refinances. All the houses in my neighborhood are 1m+, and they’re all off the market now because its not possible to secure a jumbo loan at the moment. My be region-dependent, IDK.
My bank is offering us refinancing options, but we're currently at 3% so it's not actually worth it. Our credit is excellent, but our loan is over $750K, and we live in the Bay Area.
I just refinanced a jumbo at sub 3%. Definitely happening.
What institution? Wells, Bank of America, and a handful of boutique lenders in the Bay Area all recently stated they can’t offer anything below three.