Jumbo Loans have Gone CRAZY!!

According to CNN Money this week, “For months, lenders of jumbo mortgages have been charging interest rates that are lower than what average borrowers pay.” In fact last week the interest rate for Jumbo Loans compared to a conventional 30-year, fixed rate mortgage, was just .12% LOWER! That means mortgages which are $417,000 or more ($625,500 in […]

This is a GREAT Time to Consider a Jumbo Loan on the Outer Banks!

According to a recent article in the Realtor Magazine, Jumbo Loans have remained stable. “The luxury housing market has been rebounding at a quicker pace than the lower-end market, and confidence is growing among high-income home buyers,” says Guy Cecala, publisher of Inside Mortgage Finance. “Higher-end borrowers have recovered faster and stronger than lower-income Americans […]

Jumbo Loans on the Outer Banks

According to the National Association of Realtors sales of homes in the $750,000.00 – $1,000,000.00 range are UP  38.7% from a year ago and the $1,000,000.00 plus range are UP 25.7%! So why the sudden surge in luxury home purchases? One big player in that game is the reappearance of Jumbo loans. Jumbo loans cover […]

Luxury Homes and Jumbo Loans

Would you believe that Jumbo Loans are helping drive the real estate recovery? According to a recent article in the Wall Street Journal, “Home sales using a jumbo mortgage had year-over-year growth of 7.9% through September, compared with 2.7% for nonjumbo sales.” In other words, metro home sales of over $1+ million were 28% higher […]

Outer Banks August Housing Market & Jumbo Loans!

The Outer Banks Association of Realtors® Monthly Report is out for August. Summary With the Market Monitor showing that pending listings are creeping above 300 for the first time since April it appears that this fall will be a strong sales season. Sales are starting to inch up with Lots / Land listings leading the […]