“The maximum conforming loan at an 80% LTV translates to a selling price of just over $520k. Given the current interest rate premium on jumbo mortgages, new-builds that are just a little over this amount are tending to languish on the market, whereas those in the sub-$500k range seem to still be selling briskly. If I were a developer planning on putting up some $600k+ houses, I might re-think my plans and target buyers who can take advantage of the current low rates for conforming loans.” [Angostura, commenting on Latest Greenwood King Report: On the Double!]
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One Comment
Hopefully, this will cut down on McMansionization. Well, one can dream, can’t one? :-)