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The National Association of Realtors stated homes worth between $750,000 and $1 million have increased over the last year by 38.7%. Large mortgage loans over $417,000, called jumbo loans, are directly associated with the growing luxury real estate market. Lenders are again seeing jumbo loans as a positive way to earn revenue with low deposits. The publisher at Inside mortgage Finance, Guv Cecala said, “the jumbo market may fare better than the overall mortgage market in 2013.” More here
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