Refinance Mortgage HQ » luxury home http://www.ccnation.com Information on Refinancing Mortgages Fri, 24 Jul 2009 23:02:16 +0000 http://wordpress.org/?v=2.8.3 en hourly 1 Luxury Home Market Suffers http://www.ccnation.com/luxury-home-market-suffers/ http://www.ccnation.com/luxury-home-market-suffers/#comments Wed, 08 Jul 2009 04:05:27 +0000 admin http://www.ccnation.com/?p=104 The luxury home market faces the same mortgage crisis as everyone else. Homes priced over a million dollars could sit on the market for months without bids as securing a jumbo loan is even harder because of the higher risk that lender have to take as it must remain on the company books, and thus tack on a higher interest rate. A 30 year jumbo loan carries a 6.91% compared to the 5.7% on a regular 30 year home loan.

If you ever in the market for a free Mercedes Benz with a home, simply pony up $800,000.

http://www.usatoday.com/money/economy/housing/2009-07-07-luxury-homes_N.htm

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