For a Lower Rate, Luxury Home Buyers Are Letting Cash Do the Talking

The Wall Street Journal is reporting that more luxury home buyers are putting more cash down for their home purchases to reduce interest rates.

"As luxury-home sales take off, some home buyers with deep pockets are using cash to dodge large mortgages. Some are making massive down payments in exchange for a smaller loan with a lower rate. Others are sticking to all cash... Why the change of heart? With yields on deposit accounts at record lows and concerns about future returns on equities..."

With luxury home sales increasing in the Park City real estate market, a sound strategy to maximize savings becomes critical.

Source: Wall Street Journal, October 25, 2012

Leave a Comment