Bad economy be damned. The market for a $6 million mortgage is not dead in Boston. In fact, demand for mega mortgages — $1 million and up — is on the upswing.
Bank and real estate executives say their wealthy clients still remain wary of the economy’s sharp needles, but acknowledge that with the Dow Jones Industrial Average up nearly 2,200 points over the past three months there’s growing confidence about the direction of their fortunes. That new confidence is liberating wealthy homebuyers to borrow again.
Jumbo mortgage activity is percolating even with virtually no secondary market for the loans.
Read More: Boston Business Journal Boston Luxury Condos.
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