Houston Luxury Home Sales Soar – Low Jumbo Mortgage Rates Help

It was reported in the Houston Chronicle that Luxury Home Sales are near the top in the nation. From the Houston Chronicle:

It’s no secret that Houston has some pretty pricey neighborhoods, but the city has also seen growth overall in the luxury home market.

According to a new report by Coldwell Banker Previews International, the Bayou City has climbed to the fifth spot in the country for the number of homes sold above the million-dollar threshold.

With 981 high-dollar homes sold during a 12-month span, Houston is only outpaced by San Jose, New York, Los Angeles, and the No. 1 city San Francisco.

Not only is the booming Houston, Texas economy driving luxury home sales so are low jumbo mortgage ratets. Both the fixed rate mortgage rate for a jumbo mortgage or super jumbo mortgage and the Adjustable Rate Mortgage (ARM) rate for a jumbo mortgage or super jumbo mortgage are currently very attractive.

Mortgage rates are not back at their all time lows, though they are very good. The lower your mortgage rate the more home you can afford and less interest you will pay over the life of the mortgage.

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