Luxury Highlands NC homes could benefit from a current trend. Jumbo home loans are on the rise which is great news for sellers of Highlands NC real estate, especially those selling luxury homes in the area. Rates for jumbo loans are averaging about 4.22% at the moment, compared with 4.82% a year ago. The difference offers significant savings with larger loans, adding to affordability levels. Buyers of luxury homes in Highlands NC can save a great deal over the lifetime of a loan with these low rates.
Jumbo loans are not guaranteed by the federal government and therefore are not dictated by the government either. Fewer restrictions mean loans are easier to get and private lenders are starting to loan again. According to a recent article in The Wall Street Journal, “In Mostly Tepid Housing Recovery, ‘Jumbo’ Home Loans Set Hot Pace”, jumbo loans were up 65% in the 2nd quarter compared with a year ago. This could potentially be great news for the Highlands luxury real estate market.
Contact us today to learn more about current market conditions with regards to Highlands NC real estate. Let our knowledge work to your advantage so that we can find you the vacation home of your dreams in Highlands North Carolina.
For more information about Highlands and Cashiers North Carolina, and for access to the HighlandsNC/CashiersNC MLS, contact Meadows Mountain Realty today, 828-526-1717 or email us today at [email protected].