You are currently browsing the Tucson Luxury Homes weblog archives for the day September 18, 2007.
September 18, 2007 by Donna Anderson.
We should see interest rates for Conforming (under 417K) fixed -rate loans stabilize down to 6%, which is better than we have seen all year. Now is a great time to buy since the inventory is good and rates are great! Hopefully, as a result, Jumbo loans (those over 417K) will move down to 6.5%; they have been about 7% in the past week or so. However, many luxury home buyers pay cash or put more than 1/3 down and are less influenced by interest rates than mainstream borrowers. This gives a shot in the arm to the housing market which is stabilizing but slows down seasonally at this time in Tucson.
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