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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (87094)	8/26/2007 12:13:25 AM
From: Live2Sail	Read Replies (3) \| Respond to of 306849

Lizzie, Why 30+% down? I'm sure that there are plenty of places to find jumbo loans. The question is what is the rate? Hell, I'll loan 500k if I can get 10%. Anybody need a jumbo? The rates at Wells Fargo have jumped from 6.8ish to 8ish from the bank. People who don't have $1M to drop on a house are reworking their spreadsheets to see if they can afford their mortgage, daycare, and Hawaiian vacations. Otherwise, they sit out and hope the prices go down. Buh-bye meals at French Laundry, Masa's, and Gary Danko.