I suggest everyone go watch Larry Summers' latest interview with Bloomberg as he has been more correct than anyone and had teh courage to tell a Dem POTUS he was blowing up inflation. The Fed won't stop until we have positive real rates, and they don't look at CPI but PCE which is STILL RISING.
And that low 5's jumbo comes with fees and very strict underwriting that will eiminate many borrowers that lack high W2 income.
Accessible loans will get to 9% if not 10.
Those jumbo rates are without any points and do not include any relationship discounts. Rates won't get the 10% because inflation is beginning to roll over now as things are slowing down. The Fed may take rates into the 5%s but the higher they go on the Fed funds rate the lower the push lower terms rates and that will put pressure on mortgage rates. If we get inflation going negative because we are in a recession the Fed will be cutting rates which will probably take rates into the 3%s.