The jumbo mortgate market has been rough for more than a year. Interest rates on larger mortgages have remained very high, as banks are reluctant to make large investments in individual borrowers. This has caused a real lag in sales of luxury homes and waterfront homes.
There may finally be some relief on the way. It seems that some banks have finally turned the corner and are starting to invest again without the fear of massive losses on the horizon. Whether or not this comes to fruition, we'll see. There are still clearly a lot of foreclosures on the horizon, but apparently some banks feel that they have planned for those losses are are ready to begin investing again. For Seattle waterfront real estate owners, this could signal a chance to get the market moving again and get a home sold in a reasonable amount of time.
Jumbo Loans May Be On A Comback
Sam DeBord and Brian WiegandSeattle Real Estate Brokers
Seattle Waterfront Homes
(206) 552-8820
SeattleHome.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment