Sedona Luxury Real Estate Could Get Boost
Fed rate cut could help Sedona jumbo loans
Jumbo loans are home mortgages for amounts of at least $417,000. Lately, in Sedona as well as around the country, these jumbo loans have been subject to high interest rates. Now, however, thanks to yesterday’s Fed rate cut, Sedona luxury real estate could get a boost. CNN Money reports on the Fed rate cut and jumbo loans:
But an important class of loans that might benefit from the big cut:
the high-ticket home mortgages known as non-conforming or jumbo loans.
These loans have no guaranteed secondary market because they exceed the
$417,000 cap and Freddie Mac and Fannie Mae will not buy them.
the high-ticket home mortgages known as non-conforming or jumbo loans.
These loans have no guaranteed secondary market because they exceed the
$417,000 cap and Freddie Mac and Fannie Mae will not buy them.
For more on Sedona luxury real estate, and on jumbo loans, contact Claudia Ault.
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September 8th, 2009 at 7:28 am
[...] are really heating up in the Sedona Arizona Real Estate Market along with the national market! CNN.com have released information that shows that the housing [...]