jumbo mortgages

2 Stories

As Slump Eases, High-End Homes Linger on Market

(Newser) - It’s a tale of two housing markets out there. While low and mid-priced homes are enjoying a resurgence, high-priced residences are languishing unsold, their prices falling rapidly, the Wall Street Journal reports. “We’re extremely oversupplied,” says a real estate agent in an affluent Illinois town, where... More »

Jumbo Mortgage Defaults Soar

Banks and investors brace for a new wave of defaults as jumbo loans default

(Newser) - Jumbo mortgages are now going south at an alarming rate, reports the Wall Street Journal, as affluent Americans face mounting layoffs and see their stock portfolios shrivel. Nearly 7% of prime jumbo loans—which average $750,000—were at least 90 days delinquent at the end of 2008, up from... More »

2 Stories