It’s a great time for luxury home buyers. More luxury home for less money.
For possibly the first time ever, jumbo mortgage rates are lower than conventional loans which means that luxury home buyers can borrow more money at a lower rate. Jumbo mortgages are typically defined as loans over $417,000.
Interest rates for jumbo and conventional mortgages are expected to remain equal for a few months, according to Chicago-based mortgage banker Guaranteed Rate, but will likely increase with the improving economy. So, if you’re looking to purchase a new home or your second home in NW Wisconsin, now is the time to capitalize on the rare opportunity.
Check out Edina Realty Mortgage rates.
Search JeanHedren.com for luxury homes in NW Wisconsin.