Mortgage rate hikes are not helping you sell your house

Greenwich home sellers who are holding out for their desired  price now have a new enemy: interest rates are scaling up. Buyers are controlled  by monthly payments: they can pay you more, or their lender more, but the size of the pie stays the same. Someone wins, someone  loses. Keep your price where it is and see what happens.

4 Comments

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4 responses to “Mortgage rate hikes are not helping you sell your house

  1. RR

    Rising jumbo rates could be a real problem for Greenwich upper end homes. What’s your experience with the required down payment for a $5 million home?

    • RR, my own (limited) experience with high end buyers has been that either they want just the $1.2 million mortgage for tax purposes or they put up 50% or so, but I believe (and mortgage brokers, please correct me) that 20% down will still get you a jumbo loan, assuming stellar credit.

  2. foobar

    I was just offered stated income, no docs, 90% LTV refi on my $5MM property. 5% fixed for five years.

    If you can’t get a cheap loan you are not trying hard enough

  3. Anon

    Can anyone recommend a good mortgage broker?

    Foobar?