Banks Ease Purse Strings On Luxury Home Loans

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For the first time in decades, interest rates for jumbo home loans are lower than rates for a typical mortgage. And because of that, the luxury market is the fastest growing sector of home loans. In Phoenix, sales of homes that cost more than $500,000 are up 64 percent.

Source: http://www.npr.org/2013/10/16/235185550/banks-ease-purse-strings-on-luxury-home-loans?ft=1&f=1006
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