Juicy Estates: Mortgage Blog

Coral Gables Real Estate Leads The Way

As Riley Smith of EWM Realtors wrote in his post on The Coral Gables Real Estate Vault the Coral Gables real estate market is showing all the signs of a solid recovery.  This trend is not uncommon among luxury neighborhoods throughout South Florida.   Even Forbes Magazine’s Luxury Home Index took note of the activity in Coral Gables as I highlighted on March 29th here on Juicy Estates.

We in the finance world have taken note of these positive market trends and have already loosened the purse strings a bit making Jumbo financing in these markets more readily available with easier qualification standards.  A clear example of this is a purchase I am closing at the end of the month on a Coral Gables home with Jumbo financing and only a 15% down payment…..and no mortgage insurance!

Another example of the liquidity returning to the jumbo market is the narrowing of the spread between conforming interest rates and non-conforming interest rates.  As I detailed in my post of April 1st, conforming interest rates (for loans below $417,000) did increase a bit (about .25% as I predicted) as a result of the end of the Fed’s MBS purchase program but interestingly we actually lowered our jumbo rates earlier this week.

If you are buying or selling a luxury home or commercial property in South Florida I would welcome the opportunity to help get you to the closing table.

Special thanks to Lowell Kuvin Esq. of www.CoralGablesZoningLaw.com for the image in this post.

This entry was posted on Wednesday, April 7th, 2010 at 9:20 pm and is filed under Home, Luxury Homes, Mortgage News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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