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jumbo loans: A Million Dollars Buys More House Now - 10/03/09 07:17 PM
A million dollars doesn't buy what it used to.  In most markets it now buys much more. 
Buyers who have the capacity to buy into the luxury market are getting much more for their money these days. Foreclosures are up and home prices are down.  And, this has put pressure on builders and resellers of high priced homes. 
The recession has caused a significant decline in the sale of homes in this price range.  Sales of over $1 million homes have fallen by 50 percent from their peak of four years ago. 
Until recently, the difficulty with jumbo mortgage rates further impeded … (6 comments)

jumbo loans: Jumbo Loans are Back in Play for Massachusetts Home Buyers - 09/19/09 08:20 PM
For home buyers in the Greater Boston, Massachusetts area a jumbo loan means one that exceeds $523,750.  Over the past two years, rates on these loans have skyrocketed, effectively putting a damper on this end of the real estate market.  
Home buyers with large mortgages are now getting some relief from huge monthly payments as rates on jumbo loans have started to fall. As lenders have decided that it is now safe to reenter the upscale housing market, rates have fallen to around 6 percent.  This narrows the gap between conventional loans and jumbos to 1 percentage point. 
Housing prices in Greater … (3 comments)

 
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Claudette Millette - Metrowest Mass Buyer Broker

Ashland, MA

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