Jumbo mortgages with low rates fuel resurgence in high-end real estate

November 10, 2014

The Washington Post reports that lenders are now offering large mortgages with the same interest rates, and sometimes better, as smaller ones.

 

This is causing sales of homes priced $1 million or more to soar while lower-priced properties lag, further widening the inequality gap of the economic recovery. Homes selling for at least $1 million fell in 2008 when the financial crisis hit, but the segment recovered faster than the rest of the market within the past two years.

 

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