Mortgage Rates: Luxury Homes

luxury homes: A potent combination of historically low mortgage rates, rising family incomes and soaring home-equity values is helping to fuel record sales of luxury homes in Winnipeg, says a new report from Re/Max Canada. , according to Winnipeg Free Press. "Affluent purchasers including executives, entrepreneurs, athletes and professionals are driving demand for single-family homes over the $500,000 price point, while empty nesters and retirees are setting new records for high-end condo sales," the report said. Realtor Alan Ediger in a Sage Creek home listed at $850,000. He says interest rates mean more buying power. Photo Store In its Upper End Report released on Tuesday, the real estate firm said 439 luxury homes changed hands last year in the city. That was a 26 per cent increase from the 349 sold in 2012, and a whopping 189 per cent increase from the 152 that changed hands in 2009. Related Items Poll At what price does a house become a luxury home? $400,000 $500,000 $700,000 $1 million View Results (www.immigrantscanada.com). As reported in the news.